UNITEDSTATESBANKRUPTCYCOURT SOUTHERNDISTRICTOFNEWYORK x : Inre : : LEHMANBROTHERSHOLDINGSINC., : etal., : : Debtors.

: x

Chapter11CaseNo. 0813555(JMP) (JointlyAdministered)

REPORTOF ANTONR.VALUKAS,EXAMINER March11,2010 VOLUME7OF9 Appendices 2 - 7

Jenner&BlockLLP 353N.ClarkStreet Chicago,IL606543456 3122229350 919ThirdAvenue 37thFloor NewYork,NY100223908 2128911600 CounseltotheExaminer

EXAMINERS REPORT TABLE OF APPENDICES VOLUME 6 Tab 1 VOLUME 7 Tab 2 Tab 3 Tab 4 Tab 5 Tab 6 Tab 7 VOLUME 8 Tab 8 Tab 9 Tab 10 Tab 11 Tab 12 Tab 13 Tab 14 Tab 15 Tab 16 Risk Management Organization and Controls Risk Appetite and VaR Usage Versus Limits Chart Calculation of Certain Increases in Risk Appetite Limits Compensation Valuation - Archstone Survival Strategies Supplement Valuation - CDO Narrative of September 4 Through 15, 2008 Valuation - Residential Whole Loans Glossary, Acronyms & Abbreviations Key Individuals Witness Interview List Document Collection & Review Lehman Systems Bibliography Legal Issues

Tab 17 Tab 18 Tab 19 Tab 20 Tab 21 Tab 22 VOLUME 9 Tab 23 Tab 24 Tab 25 Tab 26 Tab 27 Tab 28 Tab 29 Tab 30 Tab 31 Tab 32 Tab 33 Tab 34

Repo 105 Summary of Lehman Collateral at JPMorgan Lehmans Dealings with Bank of America Knowledge of Senior Lehman Executives Regarding The Inclusion of Clearing-Bank Collateral in the Liquidity Pool LBHI Solvency Analysis Preferences Against LBHI and Other Lehman Entities

Analysis of APB, Journal Entry, Cash Disbursement, and JPMorgan Collateral Foreign Exchange Transactions Intercompany Transactions Occurring Within Thirty Days Before Bankruptcy CUSIPs with Blank Legal Entity Identifiers CUSIPs Not Associated with an LBHI Affiliate CUSIPs Associated Solely with an LBHI Affiliate CUSIPs Associated with Both LBI and LBHI Affiliates CUSIPs Associated with Subordinated Entities CUSIPs Associated with LBHI Affiliates Not Delivered to LBI in a Financing Trade September 19, 2008 GFS Dataset Summary Balance Sheets of LBHI Affiliates Tangible Asset Balance Sheet Variations

ii

APPENDIX2:GLOSSARY,ACRONYMS&ABBREVIATIONS
Thefollowingtableincludesacronyms,abbreviationsanddefinitionsforcertainterms thatrecurthroughouttheReport. Term 80/20 Definition 80/20referstoaBNCMortgage,Inc. programthatextendedtwoseparateloans tobringtheborrowersloantovalueratio to100%basedonlyonincomedataas statedbytheborrower.1 Foradefinitionofthe80/20Ruleinthe Repo105context,seeContinualUseRule. 120%Rule Internalguidelineorrulepromulgatedby Lehmansmanagementstatingthatthe monthorquarterendspikeinRepo105 activitycouldnotresultinabalancethat exceeded120%ofthedailyaverageusage throughoutthatmonth.2 SeeAssetBackedCommercialPaper.

ABCP

1ExaminersReport,atIII.A.1.b. 2SeeemailfromMichaelMcGarvey,Lehman,toKentaroUmezaki,Lehman,etal.(Aug.17,2007)[LBEX DOCID1635769](Theguidelineformonthendusageofrepo105isthatitshouldnotexceed120% ofyourdailyaverage.);emailfromMichaelAnthony,Lehman,toKieranHiggins,Lehman(Oct.12, 2007)[LBEXDOCID738606]([I]tlooksliketheonlylimitationwehaveonsize[forRepo105]isthe monthendbalancecantbemorethan120%ofourdailyaveragethroughoutthemonth.).

ABS AccountsPositions&BalancesDatabase (APB)3

SeeAssetBackedSecurity. DatabasethattheExaminersfinancial advisors,Duff&Phelps,accessedinorder toreviewtradesmadebetweenthe FRBNYandLehmanbetweenAugust1, 2008andSeptember19,2008.4

3ExaminersReport,atIII.A.2.f. 4Id.

Affiliate

TheExaminerOrderdefinesLBHI Affiliate(s)toincludeLBCC[and]any otherentitythatcurrentlyisanLBHI chapter11debtorsubsidiaryoraffiliate. AsofthedateoftheentryoftheExaminer Order,thoseentitieswere:5 LB745LLC PAMIStatlerArmsLLC LehmanBrothersCommodityServicesInc. LehmanBrothersFinanceS.A. LehmanBrothersSpecialFinancingInc. LehmanBrothersOTCDerivativesInc. LehmanBrothersDerivativeProductsInc. LehmanCommercialPaperInc. LehmanBrothersCommercialCorporation LehmanBrothersFinancialProductsInc. LehmanScottishFinanceL.P. CESAviationLLC CESAviationVLLC CESAviationIXLLC EastDoverLimited FundodeInvestimentoMultimercado CreditoPrivadoNavigatorInvestimento NoExterior LuxembourgResidentialPropertiesLoan FinanceS.a.r.l.

5Id.atIII.C.1.a.

BNCMortgageLLC.
3

AIG ALCO AltA

SeeAmericanInternationalGroup,Inc. SeeAssetLiabilityCommittee. LehmandescribedAltAloansasloans associatedwithborrowerswhomayhave creditworthinessofprimequalitybut mayhavetraitsthatpreventtheloans fromqualifyingasprime.Thosetraits couldincludedocumentationdeficiencies relatedtotheborrowersincome disclosure,referredtoaspartialorno documentation;ortheunderlying propertymaynotbeowneroccupied despitefullorlowerdocumentationofthe borrowersincomelevels.6Aurorawas theprimaryAltAoriginatorforLehman.7 Informaltermusedinthemortgage industrytodescribeAltAloansthatwere oflessercreditquality.8Somewithin LehmanusedthetermAltBtoreferto loansoriginatedbyLehmansubsidiary AuroraLoanServices,LLCundera programknownasMortgageMaker.9

AltB

6LehmanBrothersHoldingsInc.,QuarterlyReportasofFeb.29,2008(Form10Q)(filedonApr.9,2008), atp.57(LBHI10Q(filedonApr.9,2008)). 7LehmanBrothersHoldingsInc.,AnnualReportfor2007asofNov.30,2007(Form10K)(filedonJan. 29,2008),atp.5(LBHI200710K). 8DorisTantaDungey,CalculatedRisk,AltA:TheNewHomeofSubprime? http://www.calculatedriskblog.com(July11,2007)(lastvisitedonFeb.6,2010)(statingthattheterm AltBwasnotuniversallypopularintheindustryandisnotanattempttodescribeakindof subprimelendingasmuchasitisaderogatorytermfortheworstkindofofficiallydescribedAltA, ratherlikethetermliarloanisaderogatorytermfortheblandernodoc.Ifithasanyclear definition,itgenerallyreferstothelowestqualitysegmentofthesomewhatnebulousAltA world.) 9DimitriosKritikos,Lehman,SelectedTrendsfromAuroraRiskReviewFebruary2007(Feb.2,2007)atp. 2[LBEXDOCID537846](TheproductmixofAuroraproductionhasshiftedsubstantiallyinthelast 6monthsfromAltAtoMortgageMaker(AltB).);Lehman,ProductDefinitionsofAltA,Mortgage Maker,andSubprime(Oct.17,2007),atp.2[LBEXDOCID537902].

Alvarez&Marsal

Managementconsultingagencyfounded in1983.ManagersoftheLehman liquidation.10 Organizationofcertifiedpublic accountants(CPAs)thathasbeenin existencesince1936.12 Insurer.Bytheendof2007AIGhadassets ofapproximately$1trillion,$110billionin annualrevenues,74millioncustomersand 116,000employeesin130countriesand jurisdictions.Yet,lessthanayearlater, AIGfounditselfonthebrinkoffailure andinneedofemergencygovernment assistance.14 SeeAssetPurchaseAgreement. SeeAccountsPositions&Balances Database. AMarylandrealestateinvestmenttrust thatLehmanacquiredinOctoberof 2007.16

AmericanInstituteofCertifiedPublic Accountants(AICPA)11

AmericanInternationalGroup,Inc. (AIG)13

APA APB

ArchstoneSmithOperatingTrust (Archstone)15

10Alvarez&MarsalWebsite,http://www.alvarezandmarsal.com/en/about/index.html(lastvisitedJan. 27,2010);OrderGrantingDebtorsMotiontoRetainAlvarez&Marsal,DocketNo.2278,InreLehman Bros.HoldingsInc.,No.0813555(Bankr.S.D.N.Y.Dec.17,2008). 11ExaminersReport,atIII.A.4.i. 12AmericanInstituteofCertifiedPublicAccountantsWebsite, http://www.aicpa.org/About+the+AICPA/Understanding+the+Organization/History+of+the+AICPA. html(lastvisitedJan.27,2010). 13ExaminersReport,atIntroduction. 14AmericanInternationalGroup,Inc.Website,http://www.aigcorporate.com/aboutaig/index.html(last visitedFeb.2,2010). 15ExaminersReport,atIII.A.1.a. 16ArchstoneSmithOperatingTrust(Form8K)(filedOct.5,2007),atp.2.

AssetBackedCommercialPaper (ABCP)17

Commercialpaperthatissecuredagainst assetsheldbyastructuredinvestment vehicle(usuallylongertermdebt).18 ABCPiscommercialpaperthatderivesits valueinpartfromunderlyingassetsrather thansolelyfromitsissuerspromiseto pay.19 Asecuritywhosevalueandincome paymentsarederivedfromand collateralized(orbacked)byaspecified poolofunderlyingassets.21 InternalLehmancommitteecreatedto managethefirmsliquidityonadaily basis.23 TheAPAisanagreementbetween BarclaysandLehmanforBarclaysto acquireLehmanassets.25Generally speaking,anAPAisacontractforthesale andpurchaseofonlytheassetsofa businessandnotthestock.Inaddition, onlythoseliabilitiesspecifiedinthe agreementaretransferred.26

AssetBackedSecurity(ABS)20

AssetLiabilityCommittee(ALCO)22

AssetPurchaseAgreement(APA)24

17ExaminersReport,atIII.A.2.d. 18JonathanLawBA,TheOxfordDictionaryofFinanceandBanking87(4thed.2008). 19ExaminersReport,atIII.A.5.i. 20Id.atIII.A.2.e. 21JonathanLawBA,TheOxfordDictionaryofFinanceandBanking22(4thed.2008). 22ExaminersReport,atIII.A.1.b. 23EmailfromIanT.Lowitt,Lehman,toHerbertH.McDadeIII,Lehman,etal.(July20,2007)[LBEX DOCID175646]. 24ExaminersReport,atIII.C.3. 25AssetPurchaseAgreementAmongLehmanBrothersHoldingsInc.andBarclaysCapitalInc.(Sept.16, 2008). 26See,e.g.,BLACKSLAWDICTIONARY114(7thed.1999)(definitionforAssetAcquisition).

AugustAgreements

AmendmenttotheClearanceAgreement, GuarantyandSecurityAgreement betweenJPMorganandLehman,executed inAugust2008.27 AsubsidiaryofLehmanBrothersBank FSB,AuroraservedasLehmans originatorforAltAmortgageloansina verticalintegrationbusinessmodelin whichLehmansecuritizedpoolsofthose loans.Aurorasprogramsincluded MortgageMaker,whichAuroraexpanded inlate2006andcurtailedbythesummer of2007.Lehmandiscontinuedwholesale andcorrespondentlenderoriginations throughAurorainJanuary2008.29 Afinancialreportshowingthestatusofa companysassets,liabilities,andowners equityonagivendate,usuallythecloseof themonth.30 ReportgroupwithinLehmansGlobal FundingSystemsBalanceSheetModule thattrackedfinancingrequirementsand capabilities,trackedandreported securitiesinLehmanscustodybylegal entityandreportedlegalentitybalance sheetamountsforLehmansfinancial assetstoLehmanscorporategeneral ledger(DBS).32

AuroraLoanServicesLLC(Aurora)28

BalanceSheet

BalanceSheetPositionsGroup(Positions Group)31

27ExaminersReport,atIII.A.5.b. 28Id.atIII.A.1.a. 29LBHI200710K,atp.5. 30JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms40(4thed. 1995). 31ExaminersReport,atIII.C.3.a. 32Id.

BankHoldingCompany

Acorporationthatcontrolsseveralbanks andwhoseprinciplebusinessis commercialbanking.Bankholding companiesarerestrictedintheamountof debtsuchacompanycantakeon,and thereareaddedregulationsoncertain kindsofriskytransactions.33 BofAbecameaconglomerateoffinancial institutionsafteritspredecessorthe NorthCarolinaNationalBank(NCNB) undertookaseriesofmergersand acquisitionsinthe20thCentury.35 Title11oftheUnitedStatesCode.36 UnitedStatesBankruptcyCourtforthe SouthernDistrictofNewYork.37 Internationalinvestmentbank.Divisionof BarclaysBankPLC.39AcquiredLehman assetsinSeptemberof2008.40

BankofAmericaCorp.(BofA)34

BankruptcyCode BankruptcyCourt

BarclaysCapitalInc.(Barclays)38

33PeterNewman&MurrayMilgate&JohnEatwell,TheNewPalgraveDictionaryofMoneyandFinance133 (1992). 34ExaminersReport,atIntroduction. 35BankofAmericaWebsite,http://newsroom.bankofamerica.com/heritagecenter/#/ourheritage(last visitedJan.27,2010). 3611U.S.C.1011532(2006). 37See,e.g.OrderDirectingAppointmentofanExaminerPursuanttoSection1104(c)(2)oftheBankruptcy Code,DocketNo.2569,InreLehmanBros.HoldingsInc.,No.0813555(Bankr.S.D.N.Y.Jan.16,2009). 38ExaminersReport,atIntroduction. 39BarclaysCapitalWebsite,http://www.barcap.com/About+Barclays+Capital/Our+Firm(lastvisitedJan. 28,2010). 40Transcriptofhearing,InreLehmanBros.HoldingsInc.,Case.No.0813555(Bankr.S.D.N.Y.,Sept.17, 2008),atp.1.

BasisPoint

Equaltoonehundredthofapercentage point;thesmallestunitofmeasurement usedinquotingyieldsonbills,notesand bonds.41 SeeBrokerDealerAutomationSystem. Formerstandaloneinvestmentbank. AcquiredbyJPMorganinMarch2008.43 AsubsidiaryandaffiliateofLehman BrothersBankFSB,BNCservedas Lehmansoriginatorforsubprime mortgageloansaspartofLehmans verticalintegrationbusinessmodel.45 Lehmandiscontinueditssubprime originationswhenitclosedBNCinAugust 2007.46

BDAS Bear,Stearns&Co.Inc.(BearStearns)42

BNCMortgage,Inc.(BNC)44

BoardofGovernorsoftheFederalReserve Sevenmemberboardchargedwith System(FederalReserveortheFed)47 overseeingthe12ReserveBanksandwith helpingimplementnationalmonetary policy.48

41PeterNewman&MurrayMilgate&JohnEatwell,TheNewPalgraveDictionaryofMoneyandFinance184 (1992). 42ExaminersReport,atIntroduction. 43NewYorkFed.org,FinancialTurmoilTimeline, http://www.newyorkfed.org/research/global_economy/Crisis_Timeline.pdf(lastvisitedJan.27,2010). 44ExaminersReport,atIII.A.1.a. 45Lehman,2006OTSPresentation:BNCMortgage,Inc.(Aug.15,2006),atp.2[LBEXDOCID541266]; InterviewofMatthewMiller,Sept.24,2009,atpp.23. 46LehmanBrothersHoldingsInc.,PressRelease:LehmanBrothersAnnouncesClosureofBNCMortgage (Aug.22,2007)[LBEXDOCID880148]. 47ExaminersReport,atIntroduction. 48BoardofGovernorsoftheFederalReserve,TheFederalReserveSystem:PurposesandFunctions,atp.1 (9thed.2005).

BofA Book

SeeBankofAmericaCorporation. Asaverb,tobookistogiveaccounting recognitiontosomething.Theybookeda profit.49 Collectively,booksarethejournals, ledgersandotheraccountingrecordsofa business.50

BridgeEquity

Shorttermequityfinancingprovidedwith theintentionofultimatelyresellingthe positiontootherequityinvestors.51 Ashorttermloanmadeinanticipationof intermediatetermorlongterm financing.52 Anagentforbuyersandsellerswhoalso tradesonhisorherownaccount.53 AJPMorgansystemthroughwhich brokerdealercollateralisautomatically allocatedtoinvestors.55

BridgeLoan

BrokerDealer

BrokerDealerAutomationSystem (BDAS)54

49Seee.g.ExaminersReport,atIII.A.2.f. 50SeeId.atIII.A.1.a;JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceand InvestmentTerms57(4thed.1995). 51C.f.JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms62(4th ed.1995). 52Id. 53JonathanLawBA,TheOxfordDictionaryofFinanceandBanking56(4thed.2008). 54ExaminersReport,atIII.A.5.b. 55ExaminersInterviewofJohnN.Palchynsky,May11,2009,atp.4.

10

BusinessJudgmentRule

Thepresumptionthatinmakingbusiness decisionsnotinvolvingdirectselfinterest orselfdealing,corporatedirectorsacton aninformedbasis,ingoodfaith,andinthe honestbeliefthattheiractionsareinthe corporationsbestinterests.56 SeeChiefAdministrativeOfficer. Amethodofvaluingcollateralunderlying PTGdebtandequitypositions,which simplymultipliedthecapitalizationofthe developmentby105%todeterminethe collateralvalue.57 Ameasuredesignedtoensurethatthe firmhassufficientequitytoguardthefirm frombecominginsolventduetopotential lossesonitsassetsorbusiness disruption.58 Alongtermassetthatisnotboughtor soldinthenormalcourseofbusiness.59 Themarketsinwhichdebtandequityare raisedandthentradedinthesecondary market.60 Thediscountrateusedtoconvertaseries offuturepaymentsintoasinglepresent value.62

CAO Cap*105

CapitalAdequacy

CapitalAsset

CapitalMarkets

CapitalizationRate(CapRate)61

56BLACKSLAWDICTIONARY192(7thed.1999). 57ExaminersInterviewofAnthonyJ.Barsanti,Oct.15,2009,atpp.1213;ExaminersInterviewof JonathanCohen,Jan.11,2010,atp.4. 58SeeExaminersReport,atIII.B.3.d. 59JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms72(4thed. 1995). 60BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary50(2003). 61ExaminersReport,atIII.A.2.f.

11

CarveOut

Toseparatepartofacompanysbusiness fromthecompanyandturnitintoatotally independentfirmbysellingsharesinthe newfirm.63 AmeasureofLehmanscapitaladequacy andabilitytofunditspositions;cashwith aremaininglifeofmorethanoneyear.64 FinalOrderSignedonJan.6,2008(A) AuthorizingtheDebtorsto(i)Continue UsingExistingCentralizedCash ManagementSystem,asModified,(ii) HonorCertainPrepetitionObligations RelatedtotheUseoftheCash ManagementSystem,and(iii)Maintain ExistingBankAccountsandBusiness Forms;and(B)ExtendingtheDebtors TimetoComplywithSection345(b)ofthe BankruptcyCode,DocketNo.1416,Inre LehmanBrothersHoldingsInc.No.0813555 (Bankr.S.D.N.Y.Nov.6,2008).

CashCapitalModel

CashManagementOrder

62JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms74(4thed. 1995). 63BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary51(2003). 64Lehman,ImplicationsfortheFundingFramework(Aug.6,2007),atp.3[LBEXDOCID601791].

12

CashSweep

InternalLehmanphrasedescribingthe systematicpracticeofcollecting, concentratinganddisbursingcash, includingintercompanyfundingandthe sweepingofexcesscash.65 ForpurposesofthisReport,cashsweep referstocashtransfersthatoccurred betweenSeptember15,2008andthedate thattheapplicableLBHIAffiliate commenceditschapter11case.66

CBNA CBOT CDO CEA CEO CESAviationLLC(CES)67

SeeCitibankNorthAmerica. SeeChicagoBoardofTrade. SeeCollateralizedDebtObligation. SeeCommodityExchangeAct. SeeChiefExecutiveOfficer. Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.68Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.70Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates.

CESAviationVLLC(CESV)69

65SeeDebtorsMotionforAuthorizationtoContinueUsingExistingCentralizedCashManagement System,DocketNo.669,InreLehmanBros.HoldingsInc.,No.0813555(Bankr.S.D.N.Y.Oct.3,2008). 66ExaminersReport,atIII.B.2.b. 67Id.atIII.B.3.b. 68CESAviationLLCVoluntaryBankruptcyPetition,DocketNo.1,InreCESAviationLLC,No.0813905 (Bankr.S.D.N.Y.Oct.5,2008). 69ExaminersReport,atIII.C.2.a.

13

CESAviationIXLLC(CESIX)71

CFO CFTC

Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.72Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. SeeChiefFinancialOfficer. SeeCommoditiesFuturesTrading Commission. Theoldestfuturestradingexchangeinthe UnitedStates.MergedwiththeChicago MercantileExchangein2007;nowpartof theCMEGroup.74 Executiveofficer.IanT.LowittandScottJ. FreidheimwereCoChiefAdministrative OfficersofLehman. Officerofafirmprincipallyresponsiblefor activitiesofthecompany.77RichardS. Fuld,Jr.wasCEOofLehmanBrothers HoldingsInc.fortheentiretimerelevant totheExaminersinvestigations.

ChicagoBoardofTrade(CBOT)73

ChiefAdministrativeOfficer(CAO)75

ChiefExecutiveOfficer(CEO)76

70CESAviationVLLCVoluntaryBankruptcyPetition,DocketNo.1,InreCESAviationVLLC,No.08 13906(Bankr.S.D.N.Y.Oct.5,2008). 71ExaminersReport,atIII.C.2.a. 72CESAviationIXLLCVoluntaryBankruptcyPetition,DocketNo.1,InreCESAviationIXLLC,No. 13907(Bankr.S.D.N.Y.Oct.5,2008). 73ExaminersReport,atIII.B.3.g. 74CMEGroupWebsite,http://www.cmegroup.com/company/history/timelineofachievements.html (lastvisitedFeb.3,2010);BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary59 (2003). 75ExaminersReport,atIII.A.1.b. 76Id.atIntroduction. 77SeeJohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms86(4th ed.1995).

14

ChiefFinancialOfficer(CFO)78

Executiveofficerwhoisresponsiblefor handlingfunds,signingchecks,keeping financialrecordsandfinancialplanning foracorporation.79IanT.Lowitt,Erin CallanandChristopherM.OMearawere allCFOsatLehmanduringtheperiod investigatedbytheExaminer. Lehman:TheChiefRiskOfficeris responsibleforidentifyingandreporting tothe[Risk]CommitteeontheFirms materialriskexposuresandanyrisk takingactivitiesdeemedsignificantbythe ChiefRiskOfficer.TheGlobalRisk ManagementDivisionunderthedirection oftheChiefRiskOfficerwillcompileall relevantriskinformationforthis purpose.81MadelynAntoncicand ChristopherM.OMearawereCROsat Lehmanduringtheperiodinvestigatedby theExaminer. SubsidiaryofCitigroup,Inc.83

ChiefRiskOfficer(CRO)80

CitibankNorthAmerica(Citibank N.A.)82 Citigroup,Inc.(Citi)84or (Citigroup)85

Financialservicescompanyresultingfrom amergerbetweenCiticorpandTravelers in1998.86

78ExaminersReport,atI.A. 79SeeJohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms86(4th ed.1995). 80ExaminersReport,atIntroduction. 81Lehman,RiskCommitteeCharter(Jan.5,2007),atp.2[LBEXDOCID719070]. 82ExaminersReport,atIII.A.5.a. 83CitibankN.A.Website,http://www.citigroup.com/citi/business/index.htm(lastvisitedJan.31,2010). 84ExaminersReport,atIII.A.3.c. 85Id.atI.A.

15

CleanCo

TheLehmanentitythatwouldexistafter LehmanexecuteditsSpinCoplanto spinoffitscommercialrealestateholdings toshareholders.Alsoreferredtoascore Lehman.87 Matchingbuyersandsellersinstock, futuresandoptionstransactions.88 SeeContinuousLinkedSettlement. SeeCommercialMortgageBacked Securities. Worldslargestderivativesmarketplace, formedfromthemergeroftheChicago MercantileExchangeandtheChicago BoardofTradein2007.90TheCMEs ClearingHouseDivisionconfirms,clears andsettlesallderivativescontractstraded attheCMEexchanges,actsasthecentral counterpartyandprovidesaperformance guarantyforallfuturesandoptions contractsclearedthroughthese exchanges.91

Clearing

CLS CMBS

CMEGroup(CME)89

86Citigroup,Inc.Websitehttp://www.citigroup.com/citi/corporate/history/index.html(lastvisitedJan. 27,2008). 87ExaminersInterviewofRichardS.Fuld,Jr.,May6,2009,atp.5. 88BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary63(2003). 89ExaminersReport,atIII.B.1. 90CMEGroupWebsite,http://www.cmegroup.com/(lastvisitedFeb.2,2010). 91ExaminersInterviewofTimothyDoar,Oct.16,2009,atp.2.

16

CollateralizedDebtObligation(CDO)92

Astructuredfinanceinstrumentconsisting ofabondornotebackedbyapooloffixed incomeassets(alsoaformofassetbacked security).93CDOsbackedbyResidential MortgagebackedSecurities(RMBS)are typicallyreferredtoasABSCDOs, whileCDOsbackedbyCMBSaretypically referredtoasCRECDOs.Tocreate CDOs,anoriginator,oftenaninvestment banksuchasLehman,willsetupaspecial purposeentity(SPE),identifyagroupof debtobligationssharingcertain characteristics,suchasdebtrating,and eithertransfertotheSPEconformingdebt obligationsownedbythebankoruse investorsfundstopurchasesuch obligations.Thosedebtobligations producethecashflowtopayinterestand principalundertheCDOsissuedbythe SPE.94 Astructuredfinanceinstrumentconsisting ofanotebackedbyapooloffixedincome assets.Rightstothecashflowsfromthis pool,alongwithdifferentlevelsofcredit risk,areallocatedtodifferentclassesof note.96 Amortgagebackedbondthatseparates mortgagepoolsintodifferentmaturity classes,calledtranches.98

CollateralizedLoanObligation(CLO)95

CollateralizedMortgageObligation (CMO)97

92ExaminersReport,atIII.1.b. 93JonathanLawBA,TheOxfordDictionaryofFinanceandBanking86(4thed.2008). 94ExaminersReport,atIII.A.2.f. 95ExaminersReport,atIII.A.2.f. 96JonathanLawBA,TheOxfordDictionaryofFinanceandBanking86(4thed.2008).(ACLOisaspecific typeofCDO). 97ExaminersReport,atIII.A.2.f.

17

ColorableClaim

Acolorableclaimisoneforwhichthe Examinerhasfoundthatthereissufficient credibleevidencetosupportafindingbya trieroffact.99 Aprivatelyownedbankthatprovidesa widerangeoffinancialservices,bothto thegeneralpublicandtofirms.Theyalso competewiththefinancehousesand merchantbanksbyprovidingventure capitalandprovidingmortgages.100 Commercialportfoliocomprisedofdebt instrumentssuchascommercialmortgage loans,unsecuredloanstorealestate companiesandCommercialMortgage BackedSecurities(CMBS).101 Aformofassetbackedsecuritiesthatare basedonmortgageswrittenon commercialorindustrialproperties,in contrasttoresidentialmortgages,which arewrittenonhouses.103 Arelativelylowrisk,shortterm, traditionallyunsecuredformof borrowing.Commercialpaperismost commonlyissuedbylargecreditworthy institutions.104

CommercialBank

CommercialBook

CommercialMortgageBackedSecurities (CMBS)102

CommercialPaper

98JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms93(4thed. 1995). 99ExaminersReport,atIntroduction;seealsoAppendix1,LegalIssues. 100JonathanLawBA,TheOxfordDictionaryofFinanceandBanking87(4thed.2008). 101ExaminersReport,atIII.A.2.b. 102Id.atIII.A.1.c. 103BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary67(2003). 104JonathanLawBA,TheOxfordDictionaryofFinanceandBanking87(4thed.2008).

18

CommercialRealEstate(CRE)105

Realestatethatincludesincome producingproperty,suchasoffice buildings,restaurants,hotels,and factories.106 AU.S.regulatoryorganizationresponsible forallocatingtoallsecuritiesissuedinthe U.S.andCanadaauniqueninedigit identificationnumber.TheCUSIPmustbe shownonalldocumentsrelatingtothe security.108 AcommissioncreatedbyCongressin1974 asanindependentagencywiththe mandatetoregulatecommodityfutures andoptionmarketsintheUnitedStates. TheCFTChasfivecommissionerswhoare appointedbythePresidentoftheUnited Statestofiveyearterms,confirmedbythe Senate.110 Alawthatgovernscommodityand futurestradingintheUnitedStatesand whichestablishedtheCFTC.112

CommitteeonUniformSecurity IdentificationProcedures(CUSIPs)107

CommoditiesFuturesTrading Commission(CFTC)109

CommodityExchangeAct(CEA)111

105ExaminersReport,atIII.A.2.a. 106JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms96(4thed. 1995)(seecommercialproperty). 107ExaminersReport,atIII.A.2.f. 108JonathanLawBA,TheOxfordDictionaryofFinanceandBanking88(4thed.2008). 109ExaminersReport,atIII.B.3.g. 110BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary68(2003). 111ExaminersReport,atIII.B.3.g. 112BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary68(2003).

19

ConsolidatedSupervisedEntity (CSE)113

TheConsolidatedSupervisedEntity programwascreatedbytheSECin2004as awayforglobalinvestmentbanking conglomerates,whichotherwiselacked directregulatorysupervisionunderlaw, tosubmittoregulation.114 Internalguidelineorruleusedby LehmansmanagementthatRepo105 transactionsoutstandingatanytime shouldbemaintainedatalevel throughoutanentiremonththatwas approximately80%oftheamountatthat monthend.116 Atradingplatformoperatedbya consortiumofbanks,fortheclearanceand settlementofforeignexchange(FX) trades.118 Abondorpreferredstockthatcanbe changedintoothersecurities,usually equity,onpredeterminedconditions.119

ContinualUseRule(or80/20Rule)115

ContinuousLinkedSettlement(CLS)117

Convertible

113ExaminersReport,atI.C. 114SEC,PressRelease:ChairmanCoxAnnouncedEndofConsolidatedSupervisedEntitiesProgram (Sept.26,2008). 115ExaminersReport,atIII.A.2.f. 116Lehman,GlobalBalanceSheetOverviewofRepo105(FID)/108(Equities)(July2006),atp.2[LBEX WGM748489](Repo105transactionsmustbeexecutedonacontinualbasisandremaininforce throughoutthemonth.Tomeetthisrequirement,theamountoutstandingatanytimeshouldbe maintainedatapproximately80%oftheamountatmonthend.[perChrisOMearaandEdGrieb.]). 117ExaminersReport,atIII.A.5.a. 118Id. 119JonathanLawBA,TheOxfordDictionaryofFinanceandBanking101(4thed.2008).

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CorporateGeneralLedger(DBS)120

Lehmanscorporategeneralledgersystem, whichhousedallfinancialdatasuchas balancesheetandprofitandlossbalances. Itwasthesourceforallexternaland managementreporting.121 Lehmansdecisiontorampupsubprime lendingandtakeonmorerealestaterisk asthesubprimemarketbeganto collapse.122 Apartytoacontractortransaction.123 SeeCommercialRealEstate. Aperiodduringwhichlendersare unwillingtoextendcredittoborrowersor thecostsofborrowingrise.124 Atypeofderivativetransactioninwhicha buyermakesperiodicpaymentstothe seller,andinreturnreceivesapayoffifan underlyingreferencedfinancial instrumentdefaults.125 SeeOfficialCommitteeofUnsecured Creditors.

CountercyclicalStrategy

Counterparty CRE CreditCrunch

CreditDefaultSwap

CreditorsCommittee

120ExaminersReport,atIII.B.2.c. 121Lehman,FinanceSystemsOverview,p.8[LBEXAM004340]. 122EmailfromJeffreyGoodman,Lehman,toMadelynAntoncic,Lehman,etal.(Aug.23,2006)[LBEX DOCID1368052](discussingtheramificationsofLehmansproposedstrategyofdoublingreal estaterisk). 123JonathanLawBA,TheOxfordDictionaryofFinanceandBanking104(4thed.2008). 124Id.at108. 125BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary84(2003).

21

CreditRating

Theformalevaluationofanindividualor companyscredithistoryandcapabilityof repayingobligations.Thedebtrating assignedbycreditratingagenciessuchas Standard&PoorsandMoodysareforms ofcreditrating.126 Theriskthatacounterpartywilldefaultor delaypaymentonanobligationorthatthe valueofaflowofpaymentswilldecline duetoanadversemovementinthe counterpartyscreditrating.127 TheCreditRiskManagementDepartment atLehmanhadglobalresponsibilityfor implementingtheoverallcreditrisk managementframework.TheGlobal CreditPolicyManualbringstogethera seriesofpolicystatementsusedin managingtheFirmscounterpartycredit risk,andpromotingariskmanagement cultureandprocesswhichbalancesrisk andreturnconsistentwiththefirmsrisk appetite.TheGlobalCreditPolicyManual wasreviewedandapprovedbytheCredit RiskManagementCommitteeandthe FirmsCRO.129

CreditRisk

CreditRiskManagement(CRM)128

126JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms119(4th ed.1995). 127JonathanLawBA,TheOxfordDictionaryofFinanceandBanking109(4thed.2008). 128Appendix8,RiskManagementOrg.andControls. 129Lehman,ICAAPSupportingDocument:CreditRiskManagementOverview[Draft](May2008),atp. 4[LBEXDOCID383061],attachedtoemailfromPaulShotton,Lehman,toLisaRathgeber,Lehman, etal.(July31,2008)[LBEXDOCID258308].

22

CreditSupportAnnex(CSA)130

Setsforthrulesgoverningexchangeof collateralbetweencounterparties.Partof amasteragreementbetweentheparties thatisdevelopedbytheInternational SwapsandDerivativesAssociation,Inc. (ISDA).131 Anelectronicsharesettlementsystem createdbytheBankofEnglandforthe securitiesindustrythatbeganoperationin 1996.132 SeeConsolidatedSupervisedEntity. AmeasureofLehmansequitycapitaland subordinateddebtdividedbyits riskweightedassets.133 SeeChiefRiskOfficer. SeeCommitteeonUniformSecurity IdentificationProcedures. Anintradaydebitinatradingfirmor banksaccountatitsclearingbank, clearinghouseorcentralbank.Whilethe overdraftswillbecoveredbytheendof thebusinessday,theystillexposethe clearingbanktodefaultrisk.134 SeeCorporateGeneralLedger.

CREST

CSE CSECapitalRatio

CRO CUSIPs

DaylightOverdraft

DBS

130ExaminersReport,atIII.A.2.f. 131Id.;SeealsoAllen&Overy,AnIntroductiontotheDocumentationofOTCDerivatives,(May2002),at p.8,availableathttp://www.isda.org/educat/pdf/documentation_of_derivatives.pdf(lastvisitedFeb. 3,2010). 132JonathanLawBA,TheOxfordDictionaryofFinanceandBanking110(4thed.2008). 133LehmanBrothersHoldingsInc.,QuarterlyReportasofMay31,2008(Form10Q)(filedonJuly10, 2008),atp.101(LBHI10Q(filedonJuly10,2008)). 134JonathanLawBA,TheOxfordDictionaryofFinanceandBanking91(4thed.2008).

23

DCSA DDA Debtor(s)

SeeDirectCustodialServicesAgreement. SeeDemandDepositAccount. LehmanBrothersHoldingsInc.andits affiliateddebtors.135 FollowingtheLehmanbankruptcyfiling, theExaminerlearnedthatthedebtor closedcertainexternalbankaccountsand establishednewexternalbankaccounts, whicharereferredtointheReportas NewAccounts. FollowingtheLehmanbankruptcyfiling, theExaminerlearnedthatthedebtor maintainedcertainprepetitionexternal bankaccountsbecauseclosingthose accountswouldhaveinvolvedsignificant costs.Theseaccountsarereferredtoas LegacyAccounts. Afinancialinstrumentbywhich borrowingisraisedandrepaidwith interest.138 SeeLoantoValue. Reducingacompanyslevelofdebt, typicallybysellingassets.139 Thesimultaneousexchangeofcashfora securityorotherinstrument.141

DebtorsPostBankruptcyPetitionNew ExternalBankAccounts(New Accounts)136

DebtorsPreBankruptcyPetitionExternal BankAccounts(LegacyAccounts)137

DebtSecurity

DebttoenterpriseValue Deleveraging

DeliveryVersusPayment(DVP)140

135GlobalNotesPertainingtoSchedulesandStatementsofLB2080KalakauaOwnersLLC,DocketNo. 3704,InreLehmanBros.HoldingsInc.,No.0813555(Bankr.S.D.N.Y.May29,2009). 136ExaminersReport,atIII.B.2.d. 137Id. 138JonathanLawBA,TheOxfordDictionaryofFinanceandBanking116(4thed.2008). 139Id.at120. 140ExaminersReport,atIII.A.5.b.

24

DemandDepositAccount(DDA)142

Anaccountthatallowsthebalance, withoutpriornoticetothebank,tobe drawnonortransferred.143 Nationalandstatecharteredbanksthat aresubjecttotheregulationoftheFederal Reserve.144Distinguishedfromsecurities brokerdealers,suchasinvestmentbanks, forwhichtheSECservesasprimary regulator.145 TheU.S.centraldepositoryforstock exchangesecurities,establishedinNew YorkCityin1972.Itprovidesclearance andsettlementservicesthroughanumber ofsubsidiaries,notablytheNational SecuritiesClearingCorporation.147 Afinancialinstrumentwhoseperformance isderived,atleastinpart,fromthe performanceofanunderlyingasset, securityorindex.148

DepositoryInstitution

DepositoryTrust&ClearingCorporation DepositoryTrustCo.(DTCC)146

Derivative

141BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary96(2003). 142ExaminersReport,atIII.A.5.b. 143JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms133(4th ed.1995). 144FederalReserveBankofNewYork,IntroductiontotheNewYorkFed, http://www.newyorkfed.org/aboutthefed/introtothefed.html(lastvisitedJan.27,2008). 145SeeTestimonyConcerningReformoftheFinancialRegulatorySystem,HearingBeforeH.Comm.onFin. Services,110thCong.(2008)(testimonyofChristopherCox,ChairmanoftheSec.andExchange Comm.)(elucidatingthedistinctionbetweenbanks,securitiesdealersandtheSECsresponsibilityas primaryregulatorforthelatter). 146ExaminersReport,atIII.C.6.b. 147JonathanLawBA,TheOxfordDictionaryofFinanceandBanking122(4thed.2008). 148BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary99(2003).

25

Dilution

OfEquity:Anincreaseinthenumberof ordinarysharesinacompanywithouta correspondingincreaseinitsassetsor profitability.Theresultisafallinthe valueofthesharesandlower dividends.149 AgreementbetweenLehmanandCiti signedonMarch26,1992,andreferredto astheDCSAintheSeptember12,2008 amendment.151 TheinterestratechargedbytheU.S. FederalReservewhenlendingtomember banks.152 AFederalReserveBanklendingfacility throughwhichadepositoryinstitution mayborrowfunds.153 DRWTradingGroupisaninternational proprietarytradingorganization headquarteredinChicago.154 SeeDepositoryTrust&Clearing CorporationDepositoryTrustCompany. TheExaminersfinancialadvisers.155 SeeDeliveryVersusPayment.

DirectCustodialServicesAgreement (DCSA)150

DiscountRate

DiscountWindow

DRWTrading

DTCC

Duff&PhelpsLLP(Duff&Phelps) DVP

149JonathanLawBA,TheOxfordDictionaryofFinanceandBanking124(4thed.2008). 150ExaminersReport,atIII.A.5.a. 151CitibankN.A.,DirectCustodyAgreementforCitibank,N.A.,SubsidiariesandAffiliatesand ShearsonLehmanBrothersInc.(Mar.26,1992),atp.1[CITILBHIEXAM00031437];CitibankN.A., DirectCustodialServicesAgreementDeed(Sept.12,2008),atp.1[CITILBHIEXAM00005903]. 152JonathanLawBA,TheOxfordDictionaryofFinanceandBanking128(4thed.2008). 153BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary102(2003). 154DRWTradingWebsite,http://www.drwtrading.com/aboutus/(lastvisitedFeb.2,2010). 155OrderAuthorizingTheExaminertoRetainDuff&PhelpsasFinancialAdvisors,DocketNo.2924,In reLehmanBros.HoldingsInc.,No.0813555(Bankr.S.D.N.Y.Feb.25,2009).

26

EAF EagleEnergy

SeeEquityAdequacyFramework. EnergycompanythatLehmanacquiredin 2007.156 Theprofitofacompanyattributableto eachordinaryshareinacompany,based ontheprofitsfortheperiod,after deductingminorityinterestsandpreferred sharedividends.157 Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.159Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. LegislationenactedinFebruaryof2008, providing$100billiontoindividualsand familiesdesignedtoincreaseconsumption andjumpstarttheeconomy.160 Awaytomeasureacompanys performancethatisusedtoevaluatethe companysprofitoveraspecifictime period.161 LehmanbusinessunitthatincludedFundo deInvestimentoMultimercadoCredito PrivadoNavigatorInvestimentoNo Exterior(Navigator).162

EarningsPerShare

EastDoverLtd.(EastDover)158

EconomicStimulusActof2008

EconomicValueAdded

EmergingMarketsGroup

156Lehman,UnanimousWrittenConsentofBoardofDirectors(May2,2007)[LBEXWGM964923]. 157JonathanLawBA,TheOxfordDictionaryofFinanceandBanking135(4thed.2008) 158ExaminersReport,atIII.B.3.c. 159EastDoverLimitedVoluntaryBankruptcyPetition,DocketNo.1,InreEastDoverLimited,No.08 13908(Bankr.S.D.N.Y.Oct.5,2008). 160EconomicStimulusActof2008,Pub.L.No.110185,122Stat.61322(2008). 161JonathanLawBA,TheOxfordDictionaryofFinanceandBanking137(4thed.2008). 162ExaminersReport,atIII.C.2.a.

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EPS Equity

SeeEarningsPerShare. Inbanking,thedifferencebetweenthe amountapropertycouldbesoldforand theclaimsheldagainstit.163 AccordingtoLehmanspublicfilings, EquitiesDivisionwasaLehmanbusiness unitthattradedequitiesandequity relatedproducts,enteredintoavarietyof derivativetransactionsandprovided equityrelatedresearchcoverageaswellas executionandclearingservicesfor clients.164 TheEquityAdequacyFrameworkwasan attempttomeasuretheestimatedamount ofcapitalrequiredtoallowtheFirmto reorganizeandrestructurewithout resortingtobankruptcyincaseofasevere andprolongedcrisis.165 Lehmansexternalauditors.166 Anorganizationthatmanageseconomic andpoliticalcooperationamongEuropean membercountries.168 AntonR.Valukas.169

EquitiesDivision

EquityAdequacyFramework

Ernst&Young EuropeanUnion(EU)167

Examiner

163JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms165(4th ed.1995). 164LBHI10Q(filedonJuly10,2008),atp.22. 165ExaminersReport,atIII.B.3.d. 166Id.atIntroduction. 167Id.atIII.A.6.b. 168BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary121(2003). 169OrderApprovingAppointmentofExaminer,DocketNo.2583,InreLehmanBros.HoldingsInc.,No. 0813555(Bankr.S.D.N.Y.Jan.20,2009).

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ExaminerOrder

OrderDirectingAppointmentofan ExaminerPursuanttoSection1104(c)(2)of theBankruptcyCode,DocketNo.2569,In reLehmanBros.HoldingsInc.,No.0813555 (Bankr.S.D.N.Y.Jan.16,2009). Jenner&BlockLLP. ReportofExaminerAntonR.Valukas. Anagreementbetweenabankanda companyorFederalReserveBankthat grantsthecompanyalineofcreditwith thebank.171 TheFederalNationalMortgage Association(FNMA)isagovernment sponsoredenterprise(GSE)charteredby Congressin1968whichpurchasesand securitizesmortgagestoensurethatfunds areavailableformortgagelenderstolend tohomebuyers.ThemissionofFannie Maeistoprovideliquidity,stabilityand affordabilitytotheUnitedStateshousing andmortgagemarketsbyworkingwith mortgagebankers,brokersandother primarymortgagemarketpartnersto ensuretheyhavefundstolendtohome buyersataffordablerates.172 SeeStatementofFinancialAccounting Standard.

ExaminersCounsel ExaminersReport(Report)170 Facility

FannieMae

FAS

170ExaminersReport,atIntroduction. 171JonathanLawBA,TheOxfordDictionaryofFinanceandBanking160(4thed.2008). 172FannieMaeWebsite,http://www.fanniemae.com/kb/index?page=home&c=aboutus(lastvisitedFeb.2, 2010).

29

FASB FederalFundsRate

SeeFinancialAccountingStandardsBoard. Theinterestrateatwhichmemberbanks oftheFederalReserveSystemlendtoeach otherwithexcessreserves.Asthe overnightratepaidonFederalfunds,itis akeyindicatorofmoneymarketinterest rates.173 Consideredthelargestgovernmentinsurer ofmortgagesintheworld,FHAprovides mortgageinsuranceonsinglefamily, multifamily,manufacturedhomesand hospitalloansmadebyFHAapproved lendersthroughouttheUnitedStatesand itsterritories.175 Agovernmentagencyformedbya legislativemergeroftheOfficeofFederal HousingEnterpriseOversight(OFHEO), theFederalHousingFinanceBoard (FHFB)andtheU.S.Departmentof HousingandUrbanDevelopment(HUD) governmentsponsoredenterprise(GSE) missionteam.FHFAregulatesFannie Mae,FreddieMacandthe12Federal HomeLoanBanks.177 Committeethatsetsinterestrateand creditpoliciesfortheFederalReserve System,theU.S.centralbank.179

FederalHousingAdministration (FHA)174

FederalHousingFinanceAgency (FHFA)176

FederalOpenMarketCommittee (FOMC)178

173JonathanLawBA,TheOxfordDictionaryofFinanceandBanking162(4thed.2008). 174ExaminersReport,atIII.A.2.f. 175HousingandUrbanDevelopmentWebsite, http://portal.hud.gov/portal/page/portal/HUD/federal_housing_administration(lastvisitedJan.27, 2008). 176ExaminersReport,atIII.B.6.e. 177FederalHousingFinanceAgencyWebsite,http://www.fhfa.gov/(lastvisitedFeb.3,2010). 178ExaminersReport,atIII.A.5.h.

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FederalReserveBankofNewYork (FRBNY)180

Oneof12regionalReserveBankswhich, togetherwiththeBoardofGovernorsin Washington,D.C.,makeuptheFederal ReserveSystem.181 SeeBoardofGovernorsoftheFederal ReserveSystem. SeeFederalHousingAdministration. SeeFederalHousingFinanceAgency. WidelyacceptedcreditscorebasedonFair IsaacCorporationsstatistical model,whichisdesignedtobepredictive ofcreditworthinessinaconsumerofdebt: Thescoresrankorderconsumersbyhow likelytheyaretopaytheircredit obligationsasagreed.182 SeeFixedIncomeDivision. AnU.S.nongovernmentalbodywiththe responsibilityofpromulgatingStatements ofFinancialAccountingStandards (SFAS)andGenerallyAccepted AccountingPrinciples(GAAP).184

FederalReserve

FHA FHFA FICOScore

FID FinancialAccountingStandardsBoard (FASB)183

179JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms182(4th ed.1995). 180ExaminersReport,atIntroduction. 181FederalReserveBankofNewYorkWebsite, http://www.newyorkfed.org/aboutthefed/introtothefed.html(lastvisitedJan.27,2008). 182FinancingCorporationWebsite,http://www.fico.com/en/Products/Scoring/Pages/FICOscore.aspx (lastvisitedFeb.2,2010). 183ExaminersReport,atIII.A.4.a. 184JonathanLawBA,TheOxfordDictionaryofFinanceandBanking166(4thed.2008).

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FinancialServicesAuthority(FSA)185

Anindependent,nongovernmentalbody thatregulatesthefinancialservices industryintheUnitedKingdom.186 AlsoreferredtoastheTradesGroup,a setofreportingfunctionsthatthe Examinersfinancialadvisorsdrewupon toextractrelevantdatafieldsfrom Lehmansgeneralcorporateledger (DBS). Aglobalratingagencyheadquarteredin NewYorkandLondon.188 Asecuritythatpaysafixedrateofreturn. Thisusuallyreferstodebtinstrumentsof government,corporateormunicipal borrowers,whichpayafixedrateof interestuntilthebondsmature,andto certaintypesofpreferredstock,payinga fixeddividend.189 Lehmanbusinessunitthatspecializedin, amongotherthings,municipalandpublic sectorinstruments,interestrateandcredit products,mortgagerelatedsecuritiesand loanproducts,currencies,mortgage origination,derivativetransactionsand commodities. SeeFederalOpenMarketCommittee.

FinancingModule

Fitch,Inc.,FitchRatingLtd.(Fitch)187

FixedIncomeSecurity

FixedIncomeDivision(FID)190

FOMC

185ExaminersReport,atIntroduction. 186JonathanLawBA,TheOxfordDictionaryofFinanceandBanking169(4thed.2008). 187ExaminersReport,atIII.A.2.f. 188Fitch,Inc.,FitchRatingsLtd.Website,http://reports.fitchratings.com/(lastvisitedJan.27,2008). 189JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms195(4th ed.1995). 190ExaminersReport,atIII.A.1.a.

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ForeignExchange(FX)191

Instrumentsemployedinmaking paymentsbetweencountries:paper currency,notes,checks,billsofexchange andelectronicnotificationsofinternational debitsandcredits.192 ASecuritiesandExchangeCommission (SEC)formthatmustbefiledpromptly bypubliccompanieswithrespectto certainmaterialevents. ASecuritiesandExchangeCommission (SEC)formthatpubliccompaniesmust fileannuallycontainingauditedfinancial statements,informationaboutthe operationsofthecompanyandother informationrequiredbytheSEC. ASecuritiesandExchangeCommission (SEC)formthatpubliccompaniesfile quarterly(exceptatyearend)containing unauditedfinancialstatements, informationabouttheoperationsofthe companyandotherinformationrequired bytheSEC.Theinformationthatis requiredislessdetailedthanthatonForm 10K.

Form8K

Form10K

Form10Q

191Id.atIII.A.5.a. 192JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms203(4th ed.1995).

33

FRNBY FreddieMac

SeeFederalReserveBankofNewYork. TheFederalHomeLoanMortgage Corporation(FHLMC)isagovernment sponsoredenterprise(GSE)charteredby Congresswhichpurchasesandsecuritizes mortgagestoensurethatfundsare availableformortgagelenderstolendto homebuyers.ThemissionofFreddieMac istoprovideliquidity,stabilityand affordabilitytothehousingmarketby ensuringthereisastablesupplyofmoney forlenderstomakehomeloansnew homebuyersneed.193 Asaleschargeappliedtoaninvestmentat thetimeofinitialpurchase.194 SeeFinancialServicesAuthority. Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.196Thebankruptcy casehasbeendismissed.197 SeeForeignExchange. SeeGenerallyAcceptedAccounting Principles.

FrontEndLoad

FSA FundodeInvestimentoMultimercado CreditoPrivadoNavigatorInvestimento NoExterior(Navigator)195 FX GAAP

193FreddieMac,FrequentlyAskedQuestionsAboutFreddieMac, http://www.freddiemac.com/corporate/company_profile/faqs/(lastvisitedFeb.2,2010). 194JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms209(4th ed.1995). 195ExaminersReport,atIII.C.2.a. 196FundodeInvestimentoMultimercadoCreditoPrivadoNavigatorInvestimentoNoExterior VoluntaryBankruptcyPetition,DocketNo.1,InreFundodeInvestimentoMultimercadoCreditoPrivado NavigatorInvestimentoNoExterior,No.0813903(Bankr.S.D.N.Y.Oct.5,2008). 197OrderDismissingtheBankruptcyCaseofFundodeInvestimentoMultimercadoCreditoPrivado NavigatorInvestimentoNoExterior,DocketNo.2913,InreLehmanBros.HoldingsInc.,No.0813555 (Bankr.S.D.N.Y.Feb.24,2009).

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GAAS

SeeGenerallyAcceptedAuditing Standards. SeeGovernmentAccountabilityOffice. Thepound,aunitofsterling,isthe currencyunitofGreatBritain.198 SeeGlobalCashandCollateral Management. ThearmofCongressthatinvestigatesthe performanceofgovernmentalagenciesor programs.199 TheGCFReposerviceenablesdealersto tradegeneralcollateralrepos,basedon rate,termandunderlyingproduct, throughoutthedaywithoutrequiring intraday,tradefortradesettlementona DeliveryversusPayment(DVP)basis.The servicehelpsfosterahighlyliquidmarket forsecuritiesfinancing.201

GAO GBP

GCCM

GeneralAccountingOffice

GeneralCollateralFinancing(GCF)200

GenerallyAcceptedAccountingPrinciples ThestandardsfollowedbyU.S. accountantsinmeasuring,recordingand (GAAP)202 reportingtransactions.Theseprinciples areestablishedbytheFinancial AccountingStandardsBoard(FASB).203

198JonathanLawBA,TheOxfordDictionaryofFinanceandBanking252(4thed.2008). 199BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary147(2003). 200ExaminersReport,atIII.C.6.b. 201GCFRepoService,http://www.dtcc.com/products/cs/fixed_income_gsd/gcf_repo.php(lastvisited Jan.27,2008). 202ExaminersReport,atIII.A.3.c. 203JonathanLawBA,TheOxfordDictionaryofFinanceandBanking194(4thed.2008).

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GenerallyAcceptedAuditingStandards (GAAS)204

Professionalstandardsthathavebeen establishedtoensurethatexternalauditors fulfilltheirobligationswhenauditingand reviewingfinancialstatementsandother informationcontainedinSECfilings.205 SeeGiffordFongAssociates. SeeGlobalFundingSystem. TrusteeappointedundertheSecurities InvestorProtectionActof1970forthe liquidationofLehmanBrothersInc., AdversaryProceedingNo.0801420 (Bankr.S.D.N.Y.Sept.19,2008)(SIPA Trustee).206TheSIPATrusteeisvested withsimilarpowersandrightstoa TrusteeundertheBankruptcyCode, howevertheSIPATrusteehasadditional powerstoeffectuatealiquidation.207 Financialconsultantsestablishedin 1974.209 Afixedinterestsecurityorstockissuedby theBritishgovernmentintheformof ExchequerstocksorU.S.Treasury stocks.210

GFA GFS JamesW.Giddens

GiffordFongAssociates(GFA)208

GiltEdgedSecurity

204ExaminersReport,atIII.A.3.c. 205PublicCompanyAccountingOversightBoardWebsite, http://www.pcaobus.org/Standards/index.aspx(lastvisitedFeb.2,2010). 20615U.S.C.78aaa78lll(2006). 20715U.S.C.78fff1(a)(2006). 208ExaminersReport,atIII.A.5.b. 209GiffordFongWebsite,http://www.gfong.com/(lastvisitedJan.27,2008). 210JonathanLawBA,TheOxfordDictionaryofFinanceandBanking196(4thed.2008).

36

GlassSteagallActof1933

U.S.legislationthatseparatedcommercial bankingandsecuritiesoperationsby banks.Itwasintroducedintheaftermath ofthegreatstockmarketcrashof1929.211 SeeGrammLeachBlileyAct. LBHIinhousebankingplatformintended tofacilitateefficientmonitoringofthecash activityofitsentities.213 ALehmandevelopeddatawarehousethat servedastheprimarysystemusedby Lehman(andcontinuestobeusedby Barclays)totrackfinancingrequirements andcapabilities,totrackandreport securitiesinLehmanscustodybylegal entityandtoreportlegalentitybalance sheetamountsforLehmansfinancial assetstotheLehmancorporategeneral ledger(DBS).215 SeeChiefRiskOfficer. DocumentpublishedbythePublic SecuritiesAssociationandthe InternationalSecuritiesMarket Associationthatisusedforinternational repoagreementsandisgovernedby Englishlaw,thoughpartiesmaymodify thegoverninglaw.217InLehmanscase, oneGMRAwasusedforallrepo transactionswithacounterparty.218

GLBA GlobalCashandCollateralManagement (GCCM)212

GlobalFundingSystem(GFS)214

GlobalHeadofRiskManagement GlobalMasterRepurchaseAgreement (GMRA)216

211Id.at197. 212ExaminersReport,atIII.B.2.c. 213Lehman,GCCMSystemsDescription/ProjectOverview[LBEXLL385979]. 214ExaminersReport,atIII.C.3.a. 215Lehman,GlobalFundingSystemNewUserTraining(undated),atpp.23[LBEXLL3396270]. 216ExaminersReport,atIII.A.4.d.

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GlobalRealEstateGroup(GREG)219

ALehmanrealestaterelatedbusinessunit thatfellmostlyunderthefirmsFixed IncomeDivision,createdbythemergerof thePrincipalTransactionGroupandthe CMBSbusiness,andrunbyMark Walsh.220 Lehmanunitthatmanagedthefirmsrisk management. Thirdpartyvendorbankaccount reconciliationsystemwhichsupplemented GCCMandautomatedthemajorityofthe bankreconciliationprocessatLehman.222 SeeGlobalMasterRepurchaseAgreement. Anyandallfederalagenciesand departments. Theauditandinvestigationdepartmentof theU.S.Congress.223

GlobalRiskManagementGroup

GlobalSmartStreamReconciliations (GSSR)221

GMRA Government

GovernmentAccountabilityOffice

217SeeSecuritiesIndustryandFinancialMarketsAssociation,SupplementalGuidanceNotes(June1997), atp.1,availableathttp://www.sifma.org/services/stdforms/pdf/master_repo_supp_gn.pdf(lastvisited Feb.3,2010). 218ExaminersInterviewofJohnFeraca,Oct.9,2009,atp.6.TheUKlawfirmofLinklatersprovided LehmanwithatruesaleopinionfortheGMRAunderEnglishlaw,allowingLehmantousethe GMRAforRepo105and108transactions.Linklaters,LettertoLehmanBrothersInternational (Europe)reRepurchaseTransactionsunderaGlobalMasterRepurchaseAgreement(May31,2006) [LBEXLBIE000001]. 219ExaminersReport,atIII.A.1.b. 220ExaminersInterviewofMarkWalsh,Oct.21,2009,atp.1. 221ExaminersReport,atIII.B.2.c. 222Id. 223JonathanLawBA,TheOxfordDictionaryofFinanceandBanking201(4thed.2008).

38

GrammLeachBlileyAct

LegislationenactedintheU.S.that removedtherestrictionsonbanks undertakingsecuritiesbusinessthathad beenimposedbytheGlassSteagallActof 1933.224 Aquasigovernmentalorganization, createdbyCongress,withboth governmentandprivatesectorlegal characteristics.ExamplesareFreddieMac andFannieMae.225 SeeGlobalRealEstateGroup. SeeGlobalRiskManagementGroup. Calculatedbydividinggrossassetsby stockholdersequity.226 SeeGovernmentSponsoredEnterprise. SeeGlobalSmartStreamReconciliations. Acontractwherebyonecorporation becomesliabletoperformaspecificactor dutyforanothercorporationifthefirst corporationdoesnotfulfillafinancial obligation.227

GovernmentSponsoredEnterprise

GREG GRMG GrossLeverage

GSE GSSR Guaranty

224Pub.L.No.106102,113Stat.13381481(1999)(codifiedinscatteredtitlesandofU.S.C.);Jonathan LawBA,TheOxfordDictionaryofFinanceandBanking170(4thed.2008). 225Cong.ResearchServ.110thCong.,GovernmentSponsoredEnterprises(GSEs):AnInstitutionalOverview, atpp.12.(CRSReport21663,2007)(KevinKosar)(Apr.23,2007), 226LBHI10Q(filedonApr.9,2008),atp.72. 227BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary15758(2003).

39

Haircut

AmericanBankersAssociation:(1)The amountretainedbybrokersonrepurchase agreementstopayfortheirservices.A haircutisthedifferencebetweenthebid andcontractpriceforarepurchase agreement.(2)Thedifferencebetweenthe marketvalueofsecuritybeingusedas collateralforaloanandtheamountof moneythatalenderwilladvanceagainst thesecurity.228 Financialcompanyofferingnichefinancial products.230InlateMay2008,leda consortiumofKoreanfinancialinstitutions intalksconcerningapossibleinvestment inLehman.231 SeeHSBCBankUSA,N.A. Atransactionorpositiondesignedto offsetinvestmentrisk.232 Typicallyapartnershipormutualfund thatattemptstoachievelargegainsby exploitingmarketanomalies.233 BondthathasaratingofBB+orlowerand thatpaysoutahigheryieldtocompensate forgreaterrisk.234

HanaFinancialGroup(Hana)229

HBUS Hedge

HedgeFund

HighYield

228AmericanBankersAssociation,Banking&FinanceTerminology189(4thed.1999). 229ExaminersReport,atIII.A.3.c. 230HanaFinancialGroupWebsite,http://www.hanafinancial.com/(lastvisitedFeb.3,2010). 231ExaminersReport,atIII.A.3.c. 232JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms237(4th ed.1995). 233JonathanLawBA,TheOxfordDictionaryofFinanceandBanking211(4thed.2008). 234JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms241(4th ed.1995).

40

HoldingCompany

Acorporationthatownsasufficient amountofanothercompanysstockto influenceitsboardofdirectorsandcontrol itsmanagementandpolicies.235 SeeHSBCHoldingsPlc. HSBCsU.S.subsidiary.237 Describesitself astheworldslargestbank. ThebankisheadquarteredinLondon.238 Lehmanfinancialsystemthatcontained adjustedgeneralledgerinformationand wasthesourceusedforallpublicfinancial statements.239 SeeInvestmentBankingDivision. SeeInvestmentBankRiskCommittee. JPMorgansSeptember5,2008Investment BankRiskCommitteepresentation,which includeddiscussionofinvestmentbanks, trading,marketsandtheskittishnessof hedgefundsregardingnovations.240 SeeInvestmentCorporationofDubai.

HSBC HSBCBankUSA,N.A.(HBUS)236 HSBCHoldingsPlc.(HSBC)

HyperionSystem

IBD IBRC IBRCDeck

ICD

235JonathanLawBA,TheOxfordDictionaryofFinanceandBanking163(4thed.2008). 236ExaminersReport,atIII.A.5.d. 237HSBCBankUSA,N.A.Website,http://www.us.hsbc.com/1/2/3/personal/inside/about(lastvisitedJan. 31,2010). 238HSBCWebsite,http://www.hsbc.com/1/2/about(lastvisitedJan.27,2008). 239ExaminersInterviewofKristieWong,Dec.2,2009,atp.4. 240JPMorgan,OverviewofDebtMaturitiesforMajorUSBrokerDealers,IBRCPresentation(Sept.5, 2008)[JPMEXAMINER00005998].

41

IlliquidAssets

Assetsthatarenotreadilyconvertibleinto cash,suchasastock,bondorcommodity thatisnottradedactivelyandwouldbe difficulttosellquicklywithouttakinga largeloss.241 SeeInvestmentManagementDivision. Alargeorganization,suchasaninsurance company,unittrust,bank,tradeunionora pensionfundofalargecompanythathas substantialsumsofmoneytoinvestona stockexchange.242 Anassetthatcanneitherbeseennor touched,suchasgoodwillandintellectual properties.243 Thewholesalemoneymarketinwhich bankslendtoandborrowfromone another.244 Aformofdealingbetweenbanks,security housesandcompaniesinwhich institutionsexchangeinterestrate paymentsonanotionalcapitalvalue.245

IMD InstitutionalInvestor

IntangibleAssets

InterbankMarket

InterestRateSwap

241JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms250(4th ed.1995). 242JonathanLawBA,TheOxfordDictionaryofFinanceandBanking229(4thed.2008). 243Id.at230. 244Id.at231. 245Id.at235.

42

InternalRateofReturn(IRR)246

Thediscountrateatwhichthepresent valueoffuturecashflowsequalsthe currentmarketpriceoftheinvestment. WhentheIRRonaninvestmentisgreater thanthereturnthecompanyneedsonits assets,theinvestmentisacceptable.247 Representsparticipantsintheprivately negotiatedderivativesindustry;isamong theworldslargestglobalfinancialtrade associationsasmeasuredbynumberof memberfirms.ISDAwascharteredin 1985.248 Asoftwaretool,publiclyavailablefora subscriptionfee,whichcanbeusedto analyzestructuredfinancetransactions.249 Thelimitplacedonagiventraders exposureinasingleday.250 LehmansInvestmentBankingdivision advisedcorporate,institutionaland governmentclientswithrespectto mergers,acquisitionsandotherfinancial matters.Thisdivisionalsoraisedcapital fortheseclientsbyunderwritingpublic andprivatedebtofferingsandequity instruments.252

InternationalSwapsandDerivatives Association,Inc.(ISDA)

Intex

IntradayLimit

InvestmentBankingDivision(IBD)251

246ExaminersReport,atIII.A.2.c. 247JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms267(4th ed.1995). 248InternationalSwapsandDerivativesAssociation,Inc.Website,http://www.isda.org/(lastvisitedJan. 27,2008). 249IntexSolutions,Inc.Website,http://www.intex.com/main/solutions.php(lastvisitedJan.31,2010). 250JonathanLawBA,TheOxfordDictionaryofFinanceandBanking241(4thed.2008). 251ExaminersReport,atIII.A.1.b. 252Id.atIII.C.2.a.

43

InvestmentBankRiskCommittee (IBRC)253

JPMorgancommitteetaskedwith assessingandmitigatingriskfrom investmentbankrelationships.254 Theinvestmentarmforthegovernmentof Dubai.256 Abondthathasbeengivenarelatively highcreditratingbyamajorcreditrating agency.257 Lehmanbusinessunit.Lehman consideredsellingIMDaspartofits survivalstrategy.259 SeeInternalRateofReturn. SeeInternationalSwapsandDerivatives Association,Inc. SECregulationsrequireadiscussionand analysis,throughtheeyesofmanagement, ofthecompanysfinancialstatementsand theircontext.260

InvestmentCorporationofDubai (ICD)255 InvestmentGrade

InvestmentManagementDivision (IMD)258

IRR ISDA

Item303ofRegulationSK

253Id.atIII.A.5.b. 254SeegenerallyJPMorgan,OverviewofDebtMaturitiesforMajorUSBrokerDealers,IBRCPresentation (Sept.5,2008)[JPMEXAMINER00005998]. 255ExaminersReport,atIII.A.3.b. 256InvestmentCorporationofDubaiWebsite,http://www.icd.gov.ae/(lastvisitedJan.28,2010). 257JonathanLawBA,TheOxfordDictionaryofFinanceandBanking243(4thed.2008). 258ExaminersReport,atIII.A.2.f. 259SeeMemorandumfromHughE.McGeeIII,Lehman,toRichardS.Fuld,Jr.,Lehman,etal.,(May29, 2007)[LBEXDOCID711211](describingapossiblesaleofIMD). 260Interpretation:CommissionGuidanceRegardingManagementsDiscussionandAnalysis,Securities ActReleaseNo.8350,ExchangeActReleaseNo.48,960,InvestmentCompanyActReleaseNo.29,092 (Dec.29,2003).

44

JPMorganChase(JPMorgan)261

Financialservicesorganization headquarteredinNewYork.Acquired BearStearnsin2008.262 SeeLB2080KalakauaOwnersLLC. PartofaKoreanconsortiumthat consideredacquiringLehman.264 SovereignWealthFundthatwaspartofa Koreanconsortiumthatconsidered acquiringLehman.266 SovereignWealthFundthatapproached Lehmanaboutacquiringsharesata discounttothemarketprice.268 Internationalfinancialadvisoryandasset managementfirm;advisortomergersand acquisitionsaswellascorporate restructurings.269 Lehmansubsidiarythatfiledfor bankruptcyonApril23,2009.270

Kalakaua KoreaDevelopmentBank(KDB)263

KoreaInvestmentCorp.(KIC)265

KuwaitInvestmentAuthority(KIA)267

LazardLLC

LB2080KalakauaOwnersLLC

261ExaminersReport,atIII.A.5.a. 262JPMorganWebsite,http://www.jpmorganchase.com/corporate/AboutJPMC/jpmorganhistory.htm (lastvisitedJan.28,2010). 263ExaminersReport,atIII.A.3.a. 264MemorandumfromKunhoCho,Lehman,toHughE.McGeeIII,Lehman,etal.(May29,2008),atp.1 [LBEXDOCID1374131]. 265ExaminersReport,atIII.A.3.c. 266MemorandumfromKunhoCho,Lehman,toHughE.McGeeIII,Lehman,etal.(May29,2008),atp.1 [LBEXDOCID1374131]. 267ExaminersReport,atIII.A.3.b. 268EmailfromSalehFaraj,Lehman,toRichardS.Fuld,Jr.,Lehman,etal.(Jan.9,2008) [LBHI_SEC07940_670045];emailfromJeremyIsaacs,Lehman,toRichardS.Fuld,Jr.,Lehman,etal. (Jan.11,2008)[LBHI_SEC07940_066820];ExaminersInterviewofJeremyIsaacs,Oct.1,2009,atp.8. 269LazardLLCWebsite,http://www.lazard.com/AboutLazard/History.aspx(lastvisitedFeb.2,2010). 270LB2080KalakauaOwnersLLCVoluntaryBankruptcyPetition,DocketNo.1,InreLB2080Kalakaua OwnersLLC,No.0912516(Bankr.S.D.N.Y.Apr.23,2009).

45

LB745LLC(LB745)271

Lehmanaffiliatethatfiledforbankruptcy onSeptember16,2008.272Exceptwhere thespecificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. SeeLehmanBrothersBank,FSB. SeeLehmanBrothersCommercial Corporation.Lehmanaffiliatethatfiledfor bankruptcyonOctober5,2008.273Except wherethespecificidentityofanentityis relevantandsetout,thisReportwilluse LehmantorefertoLBHIandallofits affiliates. SeeLehmanBrothersCommodityServices. Lehmanaffiliatethatfiledforbankruptcy onOctober3,2008.274Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. SeeLehmanBrothersDerivativeProducts, Inc.Lehmanaffiliatethatfiledfor bankruptcyonOctober5,2008.275Except wherethespecificidentityofanentityis relevantandsetout,thisReportwilluse LehmantorefertoLBHIandallofits affiliates.

LBB LBCC

LBCS

LBDP

271ExaminersReport,atIII.C.2.a. 272LB745LLCVoluntaryBankruptcyPetition,DocketNo.1,InreLB745LLC,No.0813600(Bankr. S.D.N.Y.Sept.16,2008). 273LehmanBrothersCommercialCorp.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersCommercialCorp.,No.0813901(Bankr.S.D.N.Y.Oct.5,2008). 274LehmanBrothersCommodityServicesInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersCommodityServicesInc.,No.0813885(Bankr.S.D.N.Y.Oct.3,2008). 275LehmanBrothersDerivativeProductsInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersDerivativeProductsInc.,No.0813899(Bankr.S.D.N.Y.Oct.5,2008).

46

LBF

LBFP

LBHI

SeeLehmanBrothersFinance,S.A. Lehmanaffiliatethatfiledforbankruptcy; casewasdismissedonMarch12,2009.276 SeeLehmanBrothersFinancialProducts Inc.Lehmanaffiliatethatfiledfor bankruptcyonOctober5,2008.277Except wherethespecificidentityofanentityis relevantandsetout,thisReportwilluse LehmantorefertoLBHIandallofits affiliates. SeeLehmanBrothersHoldingsInc.LBHI wastheholdingcompanyforhundredsof individualcorporateentities,twentytwo ofwhichhavefiledforreorganizationin thisproceeding.278Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates.

276OrderDismissingtheBankruptcyCaseofLehmanBrothersFinance,S.A.,DocketNo.3076,Inre LehmanBros.HoldingsInc.,No.0813555(Bankr.S.D.N.Y.Mar.12,2009). 277LehmanBrothersFinancialProductsInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersFinancialProductsInc.,No.0813902(Bankr.S.D.N.Y.Oct.5,2008). 278SeeExaminersReport,atIntroduction.

47

LBHIAffiliate

LehmanBrothersHoldingsInc.hadthe followingAffiliatesasdefinedinthe ExaminerOrder:279 LB745LLC PAMIStatlerArmsLLC LehmanBrothersCommodityServicesInc. LehmanBrothersSpecialFinancingInc. LehmanBrothersOTCDerivativesInc. LehmanBrothersDerivativeProductsInc. LehmanCommercialPaperInc. LehmanBrothersCommercialCorporation LehmanBrothersFinancialProductsInc. LehmanScottishFinanceL.P. CESAviationLLC CESAviationVLLC CESAviationIXLLC EastDoverLimited LuxembourgResidentialPropertiesLoan FinanceS.a.r.l. BNCMortgageLLC.

279Id.atIII.C.1.a.

48

LBI

LBIE

LBJ

LBO LBPreferredSomersetLLC LBRoseRanchLLC LBSomersetLLC LBSF

SeeLehmanBrothersIncorporated. Lehmanbrokerdealerthatwentinto liquidationonSeptember19,2008under thesupervisionoftheSecuritiesInvestor ProtectionCorporation.280Exceptwhere thespecificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. SeeLehmanBrothersInternational (Europe).LehmanEuropeanbroker dealerbasedinLondonthatcommenced foreigninsolvencyproceedings. SeeLehmanBrothersJapan.Lehman subsidiarythatcommencedforeign insolvencyproceedings. SeeLeveragedBuyout. Lehmansubsidiarythatfiledfor bankruptcyonDecember22,2009.281 Lehmansubsidiarythatfiledfor bankruptcyonFebruary9,2009.282 Lehmansubsidiarythatfiledfor bankruptcyonDecember22,2009.283 SeeLehmanBrothersSpecialFinancing Inc.Lehmanaffiliatethatfiledfor bankruptcyonOctober3,2008.284Except wherethespecificidentityofanentityis relevantandsetout,thisReportwilluse LehmantorefertoLBHIandallofits affiliates.

280OrderCommencingLiquidation,SIPCv.LehmanBros.,Inc.,No.08Civ.8119(S.D.N.Y.Sept.19,2008). 281LBPreferredSomersetLLCVoluntaryBankruptcyPetition,DocketNo.1,InreLBPreferredSomerset LLC,No.0917505(Bankr.S.D.N.Y.Dec.22,2009). 282LBRoseRanchLLCVoluntaryBankruptcyPetition,DocketNo.1,InreLBRoseRanchLLC,No.09 10560(Bankr.S.D.N.Y.Feb.9,2009). 283LBSomersetLLCVoluntaryBankruptcyPetition,DocketNo.1,InreLBSomersetLLC,No.0917503 (Bankr.S.D.N.Y.Dec.22,2009). 284LehmanBrothersSpecialFinancingInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersSpecialFinancingInc.,No.0813888(Bankr.S.D.N.Y.Oct.3,2008).

49

LCD

LCE

LCPI

LegacyAccounts

AsecuritiesaccountLehmanmaintained withJPMorganthatwasusedas additionalcollateralforJPMorgans clearingoperationsinandafterJune 2008.285 AsecuritiesaccountLehmanmaintained withJPMorganthatwasusedas additionalcollateralforJPMorgans clearingoperationsaftertheAugust Agreements.286 SeeLehmanCommercialPaperInc. Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.287Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. SeeDebtorsPreBankruptcyPetition ExternalBankAccounts. Exceptwherethespecificidentityofan entityisrelevantandsetout,thisReport willuseLehmantorefertoLBHIandall ofitsaffiliates.

Lehman288

285See,e.g.ExaminersReport,atIII.A.5.b. 286See,e.g.Id.atIII.A.5.b. 287LehmanCommercialPaperInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman CommercialPaperInc.,No.0813900(Bankr.S.D.N.Y.Oct.5,2008). 288ExaminersReport,atIntroduction.

50

LehmanAssets,Liabilities,Investments Inc.(LehmanALI)

LehmanBrothersBank,FSB(LBB)291

LehmanBrothersCommercialCorp. (LBCC)294

LehmanBrothersCommodityServices (LBCS)296

OnSeptember19,2008,shortlybeforethe commencementoftheLBISIPA proceeding,LBItransferredownershipof 25subsidiaries(andtheirdirectand indirectsubsidiaries)toLehmanALI.289 IntheExaminerOrder,theCourtdirected theExaminertoinvestigate:Thetransfer ofthecapitalstockofcertainsubsidiaries ofLBIonoraboutSeptember19,2008to LehmanALIInc.290 SubsidiaryofLBHIthatconducted mortgagebanking,originatingcommercial andresidentialmortgages.292Auroraand BNCwereoperatingsubsidiariesof LBB.293 Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.295Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. Lehmanaffiliatethatfiledforbankruptcy onOctober3,2008.297Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates.

289Id.atIII.C.1.b. 290OrderDirectingAppointmentofanExaminerPursuantto1104(c)(2)oftheBankruptcyCode, DocketNo.2569,InreLehmanBros.HoldingsInc.,No.0813555,atp.4(Bankr.S.D.N.Y.Jan.16,2009). 291ExaminersReport,atIII.A.4.f. 292LBHI200710K,atp.5. 293Lehman,PresentationtotheOfficeofThriftSupervision,LehmanBrothersBank,FSB:Safety& Soundness/ComplianceExamination2007(Aug.7,2007),atp.5[LBEXDOCID1693347]. 294ExaminersReport,atIII.A.5.c. 295LehmanBrothersCommercialCorp.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersCommercialCorp.,No.0813901(Bankr.S.D.N.Y.Oct.5,2008). 296ExaminersReport,atIII.C.2.a. 297LehmanBrothersCommodityServicesVoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersCommodityServices,No.0813885(Bankr.S.D.N.Y.Oct.3,2008).

51

LehmanBrothersDerivativeProducts,Inc. Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.299Exceptwherethe (LBDP)298 specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. LehmanBrothersFinance,S.A.(LBF)300 Lehmanaffiliatethatfiledforbankruptcy; casewasdismissedonMarch12,2009.301 LehmanBrothersFinancialProductsInc. Lehmanaffiliatethatfiledforbankruptcy 302 (LBFP) onOctober5,2008.303Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. LehmanBrothersHoldingsInc.(LBHI LBHIwastheholdingcompanyfor hundredsofindividualcorporateentities, orLehman)304 twentytwoofwhichhavefiledfor reorganization.305Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. Lehmansubsidiarythatwentinto LehmanBrothersInc.(LBI)306 liquidationonSeptember19,2008under thesupervisionoftheSecuritiesInvestor ProtectionCorporation.307

298ExaminersReport,atIII.A.2.a. 299LehmanBrothersDerivativeProductsVoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersDerivativeProducts,No.0813899(Bankr.S.D.N.Y.Oct.5,2008). 300ExaminersReport,atIII.B.3.g. 301OrderdismissingthebankruptcycaseofLehmanBrothersFinance,S.A.,DocketNo.3076,Inre LehmanBros.HoldingsInc.,No.0813555(Bankr.S.D.N.Y.Mar.12,2009). 302ExaminersReport,atIII.C.2.a. 303LehmanBrothersFinancialProductsInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersFinancialProductsInc.,No.0813902(Bankr.S.D.N.Y.Oct.5,2008). 304ExaminersReport,atIntroduction. 305SeeId.atIntroduction. 306Id.atIII.A.4.f. 307OrderCommencingLiquidation,SIPCv.LehmanBros.,Inc.,No.08Civ.8119(S.D.N.Y.Sept.19,2008).

52

LehmanBrothersInternational(Europe) (LBIE)308 LehmanBrothersJapan(LBJ)309 LehmanBrothersOTCDerivatives (LOTC)310

LehmanBrothersSpecialFinancingInc. (LBSF)312

LehmanCommercialPaperInc. (LCPI)314

LehmanGlobalTreasuryGroup (TreasuryGroup)316

LehmanEuropeanbrokerdealerbasedin Londonthatcommencedforeign insolvencyproceedings. Lehmansubsidiarythatcommenced foreigninsolvencyproceedings. Overthecounter(OTC)derivativesdealer regulatedbytheSECandaLehman affiliatethatfiledforbankruptcyon October3,2008.311Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. Lehmanaffiliatethatfiledforbankruptcy onOctober3,2008.313Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. Lehmanaffiliatethatfiledforbankruptcy onOctober5,2008.315Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. Lehmanbusinessunitresponsiblefor managingthefirmsliquiditypool, fundingtheentitiesbusinessneedsand ensuringeffectiveuseofthefirms capital.317

308ExaminersReport,atIII.A.4.c. 309Id.atIII.A.5.i. 310Id.atIII.C.2.a. 311LehmanBrothersOTCDerivativesInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersOTCDerivativesInc.,No.0813893(Bankr.S.D.N.Y.Oct.3,2008). 312ExaminersReport,atI.B. 313LehmanBrothersSpecialFinancingInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersSpecialFinancingInc.,No.0813888(Bankr.S.D.N.Y.Oct.3,2008). 314ExaminersReport,atIII.A.5.b. 315LehmanCommercialPaperInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman CommercialPaperInc.,No.0813900(Bankr.S.D.N.Y.Oct.5,2008). 316ExaminersReport,atIII.B.2.b.

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LehmanScottishFinanceL.P.(Scottish Finance)318

LehmanBrothersaffiliatethatfiledfor bankruptcyonOctober5,2008.319Except wherethespecificidentityofanentityis relevantandsetout,thisReportwilluse LehmantorefertoLBHIandallofits affiliates. Assetswhosevaluationrequirestheuseof directlyobservablepricesfromactive marketsforidenticalassetsorliabilities. Theseassetsgenerallyincludeequities listedinactivemarkets,G7government andagencysecuritiesandinvestmentsin publiclytradedmutualfundswithquoted marketpricesandlistedderivatives.320 Assetswhosevaluationrequirestheuseof directlyorindirectlyobservablepricesin activemarketsforsimilarassetsor liabilities,butthatdonotqualifyasLevelI assets.TheseassetsincludenonG7 governmentsecurities,certaincorporate debt,certaincommitmentsand guarantees,certainprivateequity investments,includingequityinterestsin investmentmanagersandcertain derivatives.321

LevelIAssets

LevelIIAssets

317SeeLehman,FSAArrowAssessmentTreasury(Aug.11,2008),atp.2[LBHI_SEC07940_3272979]. 318ExaminersReport,atIII.C.2.a. 319LehmanScottishFinanceL.P.VoluntaryBankruptcyPetition,DocketNo.1,InreLehmanScottish FinanceL.P.,No.0813904(Bankr.S.D.N.Y.Oct.5,2008). 320LBHI10Q(filedonJuly10,2008),atp.14. 321Id.

54

LevelIIIAssets

Theseassetsaretypicallyilliquidanddo nothaveobservablesalestoassistwith valuation,sothatassumptionsmustbe madebasedonthebestinformation availableinthecircumstances,whichmay includeindirectcorrelationtoamarket valueorcombinationsofmarketvaluesor proprietarydata.LehmansLevelIII assetsincludedmortgagebackedbonds, certaincorporatedebtpositions,and privateequityinvestments.322 1.OperatingLeverage:theusebya companyofitslimitedassetstoguarantee substantialloanstofinanceitsbusiness; 2.FinancialLeverage:debtinrelationto equityinafirmscapitalstructure measuredbythedebttoequityratio.The morelongtermdebtthereis,thegreater thefinancialleverage; 3.Investments:meansofenhancingreturn orvaluewithoutincreasinginvestment. Buyingsecuritiesonmarginisanexample ofleveragewithborrowedmoney.323

Leverage

LeveragedBuyout(LBO)

Takeoverofacompany,usingborrowed funds.324

322Id.at15. 323JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms297(4th ed.1995)andJonathanLawBA,TheOxfordDictionaryofFinanceandBanking258(4thed.2008). 324JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms298(4th ed.1995).

55

LeverageRatio

AlsoknownasaGearingRatio:Theratio ofabanksTier1capitaltoitsaverage totalassetsoveranaccountingperiod.325 Lehmansleverageratiowasgenerally computedbysimplydividingtotalassets bystockholdersequity. Aspeculativegradeorungradedloanthat hasagreaterchanceofdefaulting, thereforeinvestorsdemandhigherinterest ratepaymentsinexchangefor investing.326 Liquidityistheabilityofabanktofund increasesinassetsandmeetobligationsas theycomedue,withoutincurring unacceptablelosses.327Lehman definition:readyaccesstofunds.328 LehmanDefinition:Apoolof unencumberedassetsprimarilyintended tocoverexpectedcashoutflowsfortwelve monthsinastressedliquidity environment,329but[a]salastresort availabletomitigatethelossofsecured fundingcapacity.330

LeveragedLoan

Liquidity

LiquidityPool

325JonathanLawBA,TheOxfordDictionaryofFinanceandBanking193(4thed.2008). 326BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary195(2003). 327BankforInternationalSettlements,BaselCommitteeonBankingSupervision,PrinciplesforSound LiquidityRiskManagementandSupervision(Sept.2008),atp.1,availableat http://www.bis.org/publ/bcbs138.pdf(lastvisitedonFeb.6,2010). 328LBHI200710K,atp.17(Liquidity,thatisreadyaccesstofunds,isessentialtoourbusinesses. Financialinstitutionsrelyonexternalborrowingsforthevastmajorityoftheirfunding,andfailures inourindustryaretypicallytheresultofinsufficientliquidity.). 329LBHI10Q(filedonJuly10,2008),atp.80. 330Id.at84.

56

LiquidityRatio

Measuresafirmsabilitytomeetshort termobligations.331 Theriskthataninvestmentcannotbe liquidatedwithoutsubstantialloss,orthat amarketwillnotexistforthe investment.332 Theratioofmoneyborrowedtofair marketvalue,usuallyinreferencetoreal estate.334 Ownershipofasecurity,givingthe investortherighttotransferownershipto someoneelse;therighttoreceiveany incomepaidbythesecurityandtheright toanyprofitsorlossesasthesecuritys valuechanges.335 Hedgefundthatnearlyfailedin1998.The governmentconvenedaconsortiumof privatemarketparticipantstofinance LTCMsbadassets.337

LiquidityRisk

LoantoValueRatioorLoantoenterprise value(LTV)333

LongPosition

LongTermCapitalManagement (LTCM)336

331JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms305(4th ed.1995). 332JonathanLawBA,TheOxfordDictionaryofFinanceandBanking263(4thed.2008). 333ExaminersReport,atIII.A.2.d. 334JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms308(4th ed.1995). 335Id.at311. 336ExaminersReport,atIII.A.6.g. 337ExaminersInterviewofThomasBaxter,Jr.,Aug.31,2009,atp.8.

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LOTC

LTV LuxembourgResidentialPropertiesLoan FinanceS.a.r.l.(LuxembourgS.a.r.l.)339

SeeLehmanBrothersOTCDerivatives. Lehmanaffiliatethatfiledforbankruptcy onOctober3,2008.338Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. SeeLoantoValueRatio. Lehmanaffiliatethatfiledforbankruptcy onJanuary7,2009.340Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. SeeMaterialAdverseChange. Ahedgedesignedtocoverthenetor overallrisksofanentireportfolio.341 Lehmaninformationsystemwhere securitieswererecordedwhentheywere tradedasanacquisitionorsale. SECregulationsrequireadiscussionand analysis,throughtheeyesofmanagement, ofthecompanysfinancialstatementsand theircontext.344

MAC MacroHedge

MainframeTradingSystem(MTS)342

ManagementDiscussionandAnalysis (MD&A)343

338LehmanBrothersOTCDerivativesInc.VoluntaryBankruptcyPetition,DocketNo.1,InreLehman BrothersOTCDerivativesInc.,No.0813893(Bankr.S.D.N.Y.Oct.3,2008). 339ExaminersReport,atIII.C.2.a. 340LuxembourgResidentialPropertiesLoanFinanceS.a.r.l.VoluntaryBankruptcyPetition,DocketNo. 1,InreLuxembourgResidentialPropertiesLoanFinanceS.a.r.l.,No.0910108(Bankr.S.D.N.Y.Jan.7, 2009). 341JonathanLawBA,TheOxfordDictionaryofFinanceandBanking273(4thed.2008). 342ExaminersReport,atIII.B.2.c. 343Id.atIII.A.4. 344Interpretation:CommissionGuidanceRegardingManagementsDiscussionandAnalysis,Securities ActReleaseNo.8350,ExchangeActReleaseNo.48,960,InvestmentCompanyActReleaseNo.29,092, 81SECDocket2905(Dec.29,2003).

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Margin

1.General:theamountacustomer depositswithabrokerwhenborrowing fromthebrokertobuysecurities; 2.Banking:forsecuredloans,the differencebetweenthecurrentmarket valueofcollateralbackingaloanandthe facevalueoftheloanthatthelender requirestheborrowertomaintain; 3.FuturesTrading:goodfaithdepositan investormustputupwhenbuyingor sellingacontract.Ifthefuturesprice movesadversely,theinvestormustputup moremoneytomeetmargin requirements.345

MarginCall

Acallforaclienttoincreasetheamountof moneyorsecuritiesdepositedwitha brokerasasafeguard.Thisusually happensifthemarketismovingadversely fortheclientsposition.346 Anaccountingpracticeofadjustingthe valuationofasecurityorportfolioto reflectcurrentmarketvalues.347 (SeeWritedown)Downward adjustmentofthevalueofsecuritiesby banksandinvestmentfirms,basedona declineinmarketquotations.348

MarktoMarket

Markdown

345JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms318(4th ed.1995). 346JonathanLawBA,TheOxfordDictionaryofFinanceandBanking277(4thed.2008). 347JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms327(4th ed.1995). 348Id.at322.

59

MarketRisk

Riskarisingfromchangesinpricesin financialmarkets.349 AdepartmentwithinLehmansGlobal RiskManagementGroup. AformdocumentpublishedbytheBond MarketAssociationthatisusedintheU.S. togovernrepurchaseagreements.351 LehmanusedMasterRepurchase Agreementsforitsstandardrepo transactions.352 LehmanInternalDefinition:wherea traderreversesinandreposoutcollateral tothesameordifferentdates...Whenthe maturitiesofthereversereposandrepos arethesame,heorsheissaidtobe runningamatchedbook.353 Aclauseinaloanagreementorbank facilitystatingthattheloanwillbecome repayableifthereshouldbeamaterial changeintheborrowerscredit standing.355 Reachingthedateatwhichadebt instrumentisdueandpayable.356

MarketRiskManagement(MRM)

MasterRepurchaseAgreement (MRA)350

MatchedBook

MaterialAdverseChange(MAC)354

Maturity

349JonathanLawBA,TheOxfordDictionaryofFinanceandBanking278(4thed.2008). 350ExaminersReport,atIII.A.4.c. 351SecuritiesIndustryandFinancialMarketsAssociation,SupplementalGuidanceNotes(June1997), availableathttp://www.sifma.org/services/stdforms/pdf/master_repo_supp_gn.pdf(lastvisitedFeb.3, 2010). 352LehmanBrothers,RepoManual(Nov.8,2005),atp.15[LBEXLL1175483]. 353Id.at16. 354ExaminersReport,atIII.A.1.b. 355JonathanLawBA,TheOxfordDictionaryofFinanceandBanking280(4thed.2008) 356JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms329(4th ed.1995).

60

MaximumCumulativeOutflow(MCO)
357

Lehmansdefinitionoftheliquidcashpool neededinastressenvironment,derived byprojectingaseriesofcashflowsovera oneyearhorizon.TheMCOmodelis designedtoensurealiquiditypositionof $2billionafterastressperiodof90 days.358 SeeManagementDiscussionandAnalysis. Anagreementreducedtoawriting betweentwoparties.FederalReserve ChairmanBernankeandSECChairman CoxnegotiatedaMOUregardingthe extentofcooperationbetweentheFederal ReserveandtheSECinregulationof Lehman.360 Lehmansubsidiarythatfiledfor bankruptcyonDecember14,2009.361 Debtgiventomiddlemarketcompanies thatissubordinatedtootherhigher rankingdebt.362

MD&A MemorandumOfUnderstanding (MOU)359

MeritLLC

Mezzanine

357ExaminersReport,atIII.B.3.d. 358Lehman,PresentationtotheChicagoMercantileExchange,LiquidityManagementatLehman Brothers[Draft](June5,2008),atp.10[LBEXDOCID1300305]. 359ExaminersReport,atIII.A.6.c. 360ExaminersInterviewofBenS.Bernanke,Dec.22,2009,atp.7. 361MeritLLCVoluntaryBankruptcyPetition,DocketNo.1,InreMeritLLC,No.0917331(Bankr. S.D.N.Y.Dec.14,2009). 362BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary210(2003).

61

MezzanineFinance

Financethatisneitherpureequitynor puredebt.Itcanbesecuredorunsecured andusuallyearnsahigherrateofreturn thanpuredebtbutlessthanequity.It carriesahigherriskthandebtbutlessrisk thanequity.363 Anopenendedmutualfundthatinvests incommercialpaper,bankers acceptances,repurchaseagreements, governmentsecurities,certificatesof depositandotherhighlyliquidandsafe securities,andpaysrelativelylowratesof interest.364 FinancialstatementsthatLehman preparedinthecourseofthebankruptcy proceeding.366 Aninternationalcreditratingagency.368 Adebtinstrumentbywhichtheborrower (mortgagor)givesthelender(mortgagee)a lienonpropertyassecurityforthe repaymentofaloan.369

MoneyMarketFund

MonthlyOperatingReports(MOR)365

MoodysInvestorService(Moodys)367 Mortgage

363JonathanLawBA,TheOxfordDictionaryofFinanceandBanking286(4thed.2008). 364JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms341(4th ed.1995). 365ExaminersReport,atIII.A.5.c. 366Id. 367Id.atIII.A.1.a. 368MoodysInvestorsServiceWebsite,http://www.moodys.com(followlinkatlowerleftofscreen aboutmoodys)(lastvisitedJan.31,2010). 369JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms345(4th ed.1995).

62

MortgageMaker

AloanoriginationprogramatAurora usedin2006and2007toexpandAuroras AltAoriginationbusinessintoamarket segmentwithborrowerswhohadhigher riskcreditprofilesbutwhowerenot consideredsubprime;referredtobysome marketparticipantsasAltB.370 Makingtheoriginalmortgageloansthat comprisepartofapoolofmortgages.371 SeeMemorandumOfUnderstanding. SeeMasterRepurchaseAgreement. SeeMarketRiskManagement. SeeMainframeTradingSystem. Abondissuedbyalocalgovernment authority.372 Afundoperatedbyaninvestment companythatraisesmoneyfrom shareholdersandinvestsitinstocks, bonds,options,futures,currenciesor moneymarketsecurities.373 Anoptionforwhichthebuyerorsellerhas nounderlyingsecurityposition.374

MortgageOrigination

MOU MRA MRM MTS MunicipalBonds

MutualFund

NakedOption(i.e.NakedShortSale)

370ExaminersInterviewofCarlPeterson,May27,2009,atp.5;Lehman,ProductDefinitionsofAltA, MortgageMaker,andSubprime(Oct.17,2007),atp.2[LBEXDOCID537902]. 371JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms396(4th ed.1995)(actionoforiginator). 372JonathanLawBA,TheOxfordDictionaryofFinanceandBanking297(4thed.2008). 373JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms352(4th ed.1995). 374Id.at354.

63

NationalAssociationofSecuritiesDealers AutomatedQuotationsSystem (NASDAQ)

Acomputerizedsystemthatprovides brokersanddealerswithpricequotations forsecuritiestradedoverthecounteras wellasformanyNewYorkStock Exchangelistedsecurities.375 SeeFundodeInvestimentoMultimercado CreditoPrivadoNavigatorInvestimento NoExterior. SeeNeubergerBerman. Arepaymentscheduleinwhichthe monthlypaymentsareinsufficienttofully payofftheloan.Typicallythisoccurs withaballoonmortgagewherethe paymentsdonotcoverthedebtandatthe endofthetermalargepaymentisdue.376 Asituationinwhichabusinessspends morecashthanitreceivesthrough earningsorothertransactionsinan accountingperiod.377 Whenthemarketvalueofgoodwillfalls belowthegoodwillvaluethatisstatedon acompanysbalancesheet.378 Thevalueatwhichanassetappearsinthe booksofanorganization.Thisisthe purchasecostorlatestrevaluationlessany depreciationappliedsincepurchaseor revaluation.379

Navigator

NB NegativeAmortization

NegativeCashFlow

NegativeGoodwill

NetBookValue

375Id.at355. 376BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary222(2003). 377JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms359(4th ed.1995). 378BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary222(2003). 379JonathanLawBA,TheOxfordDictionaryofFinanceandBanking303(4thed.2008).

64

NetCapitalRule

ArequirementsetbytheU.S.Securities andExchangeCommission(SEC)that dealersandbrokersmaintainamaximum ratioofindebtednesstorealizableassetsof 15:1.380 Themarketvalueofbrokerdealer securities(possiblydiscountedwithan agreedformula)pledgedtoaclearing bankplusanyunsecuredclearingbank creditlineminuscashadvancedbythe clearingbanktothebrokerdealer.382 Lehmandefineditscalculationofnet leverageasnetassetsdividedbytangible equitycapital.Lehmanwroteinits publicfilingthatnetleveragewasamore meaningfulmeasureofleveragethan grossleverage.383 AlsophrasedasNetOperatingProfit(or Loss).Thedifferencebetweenthe revenuesofthebusinessandtherelated costsandexpenses,excludingother incomeanddeductions.385

NetFreeEquity(NFE)381

NetLeverage

NetOperatingIncome(NOI)384

380Id. 381ExaminersReport,atIII.A.5.b. 382ExaminersInterviewofRicardoS.Chiavenato,Sept.21,2009,atp.5. 383LBHI200710K,atp.30. 384ExaminersReport,atIII.A.2.f. 385JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms388(4th ed.1995)(definitionforoperatingprofit).

65

NettingGrid

ALehmandocumententitledAccounting PolicyReviewBalanceSheetNettingand OtherAdjustments,knowncolloquially astheNettingGrid.TheNettingGrid identifiedanddescribedvariousbalance sheetnettingmechanismsLehman utilized.Oneofthebalancesheet mechanismstheNettingGridaddressed wasLehmansuseofRepo105/108 transactions.386 Netincomeasapercentageofnetrevenue. Ameasureofoperatingefficiencyand pricingstrategy.387 DivisionofLehmansInvestment ManagementDivision(IMD). SeeDebtorsPostBankruptcyPetition NewExternalBankAccounts. Theoldestandlargeststockexchangein theU.S.389 SeeNetFreeEquity. Lehmanvirtualbankaccountmaintained byLehmansGlobalCashCollateral ManagementthattrackedLehmans ExternalBankAccounts.390

NetProfitMargin

NeubergerBerman(NB)388

NewAccounts

NewYorkStockExchange(NYSE)

NFE NostroAccount

386SeeLehman,AccountingPolicyReviewBalanceSheetNettingandOtherAdjustments(Nov.2007) [LBEXDOCID2720762]. 387JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms364(4th ed.1995). 388ExaminersReport,atIII.A.3.c. 389JonathanLawBA,TheOxfordDictionaryofFinanceandBanking306(4thed.2008). 390Nostroreferredbothtotheactualaccountsmaintainedatoutsidefinancialinstitutionsanda representationofthoseactualaccountsmaintainedwithintheGCCMsystem.

66

NotionalIncome

Incomethatisnotyetreceivedbutmight bedeemedtobeproperlychargeableto incometax.391 Areferencepricebasedontradingactivity duringaspecifictimeperiodthatisclose totheendoftheday.392 Anagreementtoreplaceonepartytoa contractwithanewparty.393 ThomasP.DiNapoli,NewYorkState ComptrollerasAdministrativeHeadof theNewYorkStateandLocalRetirement SystemsandSoleTrusteeoftheNewYork StateCommonRetirementFund.394 SeeOptionsClearingCorp. DivisionoftheSECthatconductsinternal auditsandinvestigationsofSECprograms andoperations.Throughtheseauditsand investigations,theInspectorGeneralseeks toidentifyandmitigateoperationalrisks, enhancegovernmentintegrity,and improvetheefficiencyandeffectivenessof SECprograms.396

NotionalSettlement

Novation

NYSComptroller

OCC OfficeofInspectorGeneral(OIG)395

391JonathanLawBA,TheOxfordDictionaryofFinanceandBanking312(4thed.2008). 392BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary229(2003). 393JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms377(4th ed.1995). 394SeeMotionofNewYorkStateComptrollerforAppointmentofaTrusteeor,intheAlternative,an ExaminerwithExpandedPowers,DocketNo.1376,InreLehmanBros.HoldingsInc.,No.0813555 (Bankr.S.D.N.Y.Nov.4,2008). 395ExaminersReport,atIII.A.6.f. 396SecuritiesandExchangeCommissionWebsite,http://www.sec.gov/about/whatwedo.shtml(last visitedJan.28,2010).

67

OfficeofThriftSupervision(OTS)397

UnitoftheU.S.TreasuryDepartmentthat supervisesthemortgageindustry.398

OfficialCommitteeofUnsecuredCreditors Lehmanunsecuredcreditorsthatwere (CreditorsCommittee) appointedbytheU.S.Trusteetothe OfficialCommitteeofUnsecured Creditors,includingWilmingtonTrust Co.,TheBankofNYMellon,ShinseiBank Ltd.,MizuhoCorp.BankLtd.,Metlife,the VanguardGroupInc.andAegonUSA InvestmentManagement.399 OIG OpenMarketOperations(OMO)400 SeeOfficeofInspectorGeneral. OperationsbywhichtheSecurities DepartmentoftheNewYorkFederal ReserveBankofNewYorkcarriesout instructionsdesignedtoregulatethe moneysupply.401 Therighttobuyorsellafixedquantityof acommodity,currency,security,etc.,ata particulardateataparticularprice.402

Option

397ExaminersReport,atIII.A.1.a. 398OfficeofThriftSupervisionWebsite,http://www.ots.treas.gov/?p=AboutOTS(lastvisitedJan.28, 2010). 399FirstAmendedAppointmentofCommitteeofUnsecuredCreditors,DocketNo.592,InreLehman Bros.Holdings,Inc.,No.0813555(Bankr.S.D.N.Y.Oct.3,2008). 400ExaminersReport,atIII.A.5.h. 401JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms387(4th ed.1995). 402JonathanLawBA,TheOxfordDictionaryofFinanceandBanking321(4thed.2008).

68

OptionsClearingCorp.(OCC)403

Acompanythathasbeensetupbyan optionsexchangetomonitormargin accountsofoptionstraders,guarantee theirperformanceandsettleexchange tradedoptiontrades.404Foundedin1973, itisthelargestequityderivativesclearing organizationintheworld.405 OrderDirectingAppointmentofan ExaminerPursuanttoSection1104(c)(2)of theBankruptcyCode,DocketNo.2569,In reLehmanBros.HoldingsInc.,No.0813555 (Bankr.S.D.N.Y.Jan.16,2009). SeeOvertheCounter. SeeOfficeofThriftSupervision. Asituationinwhichonepartyowesa paymentobligationtoasecondpartyand pledgescollateraltothesecondpartysuch thatthemarketvalueofthepledged collateralisconsideredtobegreaterthan thepayment.406 Anarrangementwherebysecurities dealersandbanksfinancetheirinventories ofTreasurydebt,U.S.agencysecurities, andothereligiblecollateralinoneday securedloans.407

Order

OTC OTS Overcollateralized

OvernightRepurchaseAgreement

403ExaminersReport,atIII.B.3.g. 404JonathanLawBA,TheOxfordDictionaryofFinanceandBanking235(4thed.2008). 405TheOptionsClearingCorp.Website,http://www.optionsclearing.com/about/(lastvisitedFeb.1, 2010). 406JonathanLawBA,TheOxfordDictionaryofFinanceandBanking324(4thed.2008). 407JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms399(4th ed.1995).

69

OvertheCounter(OTC)408

Securitiesthatarenotlistedandtradedon anorganizedstockexchange.409 Lehmanaffiliatethatfiledforbankruptcy onSeptember23,2008.411Exceptwhere thespecificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. Equaltothenominalorfacevalueofa security.412 Bondsorpreferredstocksthatpay interest/dividendsintheformof additionalbondsorpreferredstocks.414 SeePrimaryDealerCreditFacility. SeeProperty,EquipmentandLease Improvements. SeeProfitandLossStatement. Transferringproperty,suchassecurities, toalenderorcreditorascollateralforan obligation.415

PAMIStatlerArmsLLC(PAMI Statler)410

Par

PaymentinKind(PIK)Security413

PDCF PEL

P/L Pledging

408ExaminersReport,atIII.B.3.c. 409JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms400(4th ed.1995). 410ExaminersReport,atIII.B.7. 411PAMIStatlerArmsLLCVoluntaryBankruptcyPetition,DocketNo.1,InrePAMIStatlerArmsLLC, No.0813664(Bankr.S.D.N.Y.Sept.23,2008). 412JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms404(4th ed.1995). 413ExaminersReport,atIII.C.4. 414JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms419(4th ed.1995). 415Id.at421.

70

Pool

1.Thecombinationoffinancial instrumentsinasecurity; 2.Anaggregationofaccounts.416

Portfolio

Thecombinedholdingofmorethanone stock,bond,commodity,realestate investmentorotherassetbyanindividual orinstitutionalinvestor.417 Aninvestorsstakeinaparticularsecurity ormarket.418 SeeBalanceSheetPositionsGroup. Thepayingorsecuringbyaninsolvent debtor,tooneormoreofitscreditors,the wholeorapartoftheirclaims,tothe exclusionordetrimentofother creditors.419 SeeLBPreferredSomersetLLC. Aclassofcapitalstockthatpaysdividends ataspecifiedrateandthathaspreference overcommonstockinthepaymentof dividendsandtheliquidationofassets.420

Position

PositionsGroup PreferencePayment

PreferredSomerset PreferredStock

416JonathanLawBA,TheOxfordDictionaryofFinanceandBanking343(4thed.2008). 417JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms425(4th ed.1995). 418Id.at426. 419StevenH.Gifis,BarronsLawDictionaryp.383(4thed.1996). 420JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms431(4th ed.1995).

71

PrimaryDealerCreditFacility (PDCF)421

FederalReserveovernightloanfacility thatprovidedfundingtoprimarydealers inexchangeforaspecifiedrangeof eligiblecollateral;createdinMarch2008 andintendedtofosterthefunctioningof financialmarketsmoregenerally.422 InvestmentsLehmanmadeusingitsown capital.423 PTGreferstotheGREGPrincipal TransactionsGroupintheU.S.andthe investmentsthatthisgrouporiginatedand managed.425 Financingfundedbyissuingdebt.426 Thesellingofsharesinacompanydirect toinvestors,oftenwithoutthe intermediaryofastockbroker.427 Apresentationofdata,suchasabalance sheetorincomestatement,wherecertain amountsarehypotheticalorrepresent projections.428

PrincipalTransaction/Principal Investment PrincipalTransactionsGroup(PTG)424

PrivateEquity PrivatePlacing

ProForma

421ExaminersReport,atIII.A.3.c. 422FederalReserveBankofNewYorkWebsite,http://www.newyorkfed.org/markets/pdcf_faq.html(last visitedJan.31,2010). 423JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms438(4th ed.1995)(aprincipalbuysandsellsforhisorherownaccountandrisk). 424ExaminersReport,atIII.A.2.a. 425Id. 426JonathanLawBA,TheOxfordDictionaryofFinanceandBanking350(4thed.2008). 427Id. 428JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms443(4th ed.1995).

72

Proceeds

Moneyearnedbythesellerofanasset aftercommissionsarededucted.429 InternalLehmangroupthatperformed pricetestingoncertainLehmanassets.430 Onadailybasis,ProductControl performedP/Lreview.431 Afinancialstatementthatliststhe differenttypesofrevenuesthatacompany hasearnedandtheexpensesithas incurred.432 Awrittenpromisecommittingthemaker topaythepayeeaspecifiedsumofmoney eitherondemandoratafixedor determinablefuturedate,withorwithout interest.433 Adocumentthatgivesdetailsaboutanew issueofsharesandinvitesthepublicto buysharesordebenturesinthe company.434 Anorderissuedforthepurposeof protectingapartyfromsomeabuseofthe legalsystem,oftenpertainingtodiscovery issues.435

ProductControlGroup

ProfitandLossStatement(P/L)

PromissoryNote

Prospectus

ProtectiveOrder

429Id.at441. 430ExaminersReport,atIII.A.2.e. 431Lehman,PriceVerificationPolicy:GlobalCapitalMarkets2008[Draft](2008),atp.4 [LBHI_SEC07940_2965994]. 432JonathanLawBA,TheOxfordDictionaryofFinanceandBanking259(4thed.2008). 433JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms444(4th ed.1995). 434JonathanLawBA,TheOxfordDictionaryofFinanceandBanking355(4thed.2008). 435StevenH.Gifis,BarronsLawDictionaryp.401(4thed.1996).

73

PTG QualifiedSpecialPurposeEntity (QSPE)436

SeePrincipalTransactionsGroup. Aspecialpurposeentitythatmeetsthe qualificationsofSFAS140,includingbeing distinctfromthetransferorandbeing limitedinitsactivities,assetsandabilityto disposeofitsassets.437 LehmanbusinessunitwithinitsGlobal RiskManagementGroup.QRMwas chargedwithdevelopment,maintenance andoperationoftheriskquantification methodologiessupportingmarket,credit andoperationalrisks,aswellas independentlyreviewingandapproving thepricingmodelsusedacrossthe Firm[.]438 SeeRiskAppetite. Anorganizationthatmonitorsthecredit backingofinstitutionsandofbondissues andotherformsofpublicborrowings.439 SeeRiskBasedMargin. Acompanythatmanagesaportfolioof realestatetoearnprofitsfor shareholders.441

QuantitativeRiskManagement(QRM)

RA RatingAgency

RBM RealEstateInvestmentTrust(REIT)440

436ExaminersReport,atIII.A.4.i. 437ACCOUNTINGFORTRANSFERSANDSERVICINGOFFINANCIALASSETSANDEXTINGUISHMENTSOF LIABILITIES,StatementofFinancialAccountingStandardsNo.140,25,35(FinancialAccounting ServicesBd.2000). 438Lehman,QuantitativeRiskManagementPolicyManual(Sept.2007),atp.3[LBEXDOCID384020]. 439JonathanLawBA,TheOxfordDictionaryofFinanceandBanking365(4thed.2008). 440ExaminersReport,atIII.A.2.e. 441JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms461(4th ed.1995).

74

Reconciliation

Account:Aprocedureforconfirmingthat thereliabilityofacompanysaccounting recordsbyregularlycomparingbalances oftransactions.442 Regulatestheacquisitionofcontrolof banksandbankholdingcompaniesby companiesandindividuals,definesand regulatesthenonbankingactivitiesin whichbankholdingcompanies(including financialholdingcompanies)andforeign bankingorganizationswithUnitedStates operationsmayengageandestablishesthe minimumratiosofcapitaltoassetsthat bankholdingcompaniesmust maintain.443 SeeRealEstateInvestmentTrust. Thecosttoreplaceanassetwithanotherof similarutilityattodaysprices.444 SeeRepurchaseAgreement. SeeExaminersReport.FinalReportof ExaminerAntonR.Valukas.

RegulationY(RegY)

REIT ReplacementCost

Repo Report

442JonathanLawBA,TheOxfordDictionaryofFinanceandBanking5(4thed.2008). 443FederalReserveBoardWebsite,http://www.federalreserve.gov/bankinforeg/reglisting.htm#Y(last visitedJan.12,2010). 444JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms475(4th ed.1995).

75

RepurchaseAgreement(Repo)445

Agreementswhereonepartytransfersan assetorsecuritytoanotherpartyas collateralforashorttermborrowingof cash,whilesimultaneouslyagreeingto repaythecashandtakebackthecollateral ataspecificpointintime.Whentherepo transactionmatures,theborrowerrepays thefundsplusanagreeduponinterestrate andtakesbackitscollateral.446 Repo105transactionswerenearly identicaltostandardrepotransactions,but withacriticaldifference:Lehman accountedforRepo105transactionsas salesasopposedtocashborrowingsor financingtransactionsbaseduponthe overcollateralizationorhigherthan normalhaircutinaRepo105 transaction.447Repo105andRepo108 transactionssharedthesameaccounting andstructure.Theydifferedonlyinthat Repo105requiredfixedincomesecurities andaminimum5%haircut,whileRepo 108transactionsrequiredequities securitiesandaminimum8%haircut. SecuritizationcreatedbyLehmaninMay 2008,comprisedofnonperforming loans.449

Repo105108

ResidentialLoanTrust(RLT)448

445ExaminersReport,atIII.A.4.c. 446Id.atIII.A.4. 447Id. 448Id.atIII.A.2.f. 449Id.

76

ResidentialMortgageBackedSecurity (RMBS)450

Bondsissuedagainstapoolofresidential mortgages,withpaymenttoinvestors basedontheperformanceofthe underlyingmortgageassetsandconsisting ofprincipalandinterestpaymentsina waterfalltypepaymentstructureinwhich principalpaymentsareallocatedtosenior tranchesfirst,thentothejunior, mezzanineandequitytranches,ina descendingorder(alsoaformofasset backedsecurity).451 Residentialmortgagescreatedbyloan originatorswholenddirectlyto homeowners,forlatersaleinpoolsto governmententities(suchasFannieMae andFreddieMac),financialfirms(suchas Lehman)andotherinvestors.453

ResidentialWholeLoans(RWLs)452

450Id.atIII.A.1.b. 451RichardJ.Rosen,ChicagoFedLetter,TheFederalReserveBankofChicago,TheRoleofSecuritization inMortgageLending(Nov.2007);AdamJ.AshcraftandTilSchuerman,TheFederalReserveBankof NewYork,UnderstandingtheSecuritizationofMortgageCredit(Mar.2008). 452ExaminersReport,atIII.A.2.a. 453Id.atIII.A.2.f.

77

RestrictedShare(Stock)Unit(RSU)

ARestrictedStockUnitisagrantvalued intermsofcompanystock,butcompany stockisnotissuedatthetimeofthegrant. Aftertherecipientofaunitsatisfiesthe vestingrequirement,thecompany distributesshares,orthecashequivalent ofthenumberofsharesusedtovaluethe unit.Dependingonplanrules,the participantordonormaybeallowedto choosewhethertosettleinstockor cash.454 Sharesinacompanythatarenotowned outrightbytheholderuntilastated conditionisfulfilled.455 Typicallytheamountofnetincome, expressedasapercentage,earnedonthe bookvalueofacompanysshareholder equityforagivenperiod.456 AspecificformofROEcalculationwhere thedefinitionofequityexcludesall intangibleassets.AccordingtoLehmans AnnualReport,LehmancalculatedROTE bydividingnetincomeapplicableto commonstockfortheperiodbyaverage tangiblecommonstockholdersequity.457

RestrictedShares

ReturnOnEquity

ReturnonTangibleEquity

454FidelityBrokerageServicesLLCWebsite, http://content.members.fidelity.com/products/stockoptions/rstocksunits/1,,0,00.html(lastvisitedJan. 27,2008). 455JonathanLawBA,TheOxfordDictionaryofFinanceandBanking381(4thed.2008). 456JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms483(4th ed.1995). 457LBHI200710K,atp.31.

78

ReverseRepurchaseAgreement(Reverse Repo)458

Arepofromthestandpointofthe buyer/lender.Inareverserepo,PartyA (thebuyer/lender)purchasesasecurity fromPartyB(theseller/borrower)in exchangeforcashforapredetermined periodoftime,afterwhichPartyAreturns thesecuritytoPartyBatapredetermined price(cashplusinterest).459 AriskmonitoringmetricLehman representedasthecenterofitsapproach torisk,intendedtoaggregateallthe market,creditandeventriskofLehmans assets.460RiskAppetiterepresentedthe amountofmoneythefirmwasprepared toloseoverthecourseofoneyear.461 Additionalmarginrequired,basedon collateraltype,aboveandbeyondthe marginrequiredbytheinvestors,which wouldtakeintoaccountliquidationrisk toaccountforonedaypricevolatilityfor securitieswithoutcorrelation,andprice risk,anestimateofpotentialvendorprice overstatementforilliquidsecurities.462 Aprocessthataimstohelporganizations understand,evaluateandtakeactionon allrisks.463

RiskAppetite

RiskBasedMargin

RiskManagement

458ExaminersReport,atIII.B.3.g. 459Id. 460JaredPedowitz,Ernst&Young,MarketRiskManagementWalkthroughTemplate(Nov.30,2007),at p.9[EYLELBHIKEYPERS1015089]. 461Id. 462JPMorgan,TripartyRepoDiscussionLehman(May29,2008),atp.10[JPMEXAMINER00006028]. 463JonathanLawBA,TheOxfordDictionaryofFinanceandBanking387(4thed.2008).

79

RiskTolerance

Aninvestorswillingnesstoacceptriskin thehopeitsinvestmentswillincreasein value.464 SeeResidentialMortgageBackedSecurity. Apresentationbytheissuerofsecurities topotentialbuyersaboutthemeritsofthe issue.465 SeeReturnOnEquity. Thesaleofapositionandredeploymentof thefundstoinvestinasimilarposition.466 SeeLBRoseRanchLLC. SeeReturnonTangibleEquity. SeeRestrictedShare(Stock)Unit. Thehastyandsimultaneouswithdrawalof fundsbyalargenumberofdepositors, whohavelostconfidenceinabankor otherfinancialinstitution.467 SeeResidentialWholeLoans. SeeSecuritiesandExchangeCommission StaffAccountingBulletin.

RMBS RoadShow

ROE Rollover

RoseRanch ROTE RSU Run

RWL SAB

464BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary282(2003). 465JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms493(4th ed.1995). 466JonathanLawBA,TheOxfordDictionaryofFinanceandBanking388(4thed.2008). 467Id.at390.

80

SafetyandSoundnessExamination

AnexaminationundertakenbytheOffice ofThriftSupervision(OTS)that analyzedtheassetqualityandcompliance withconsumerlawsandregulations.468 OrderapprovingthesaleofLehmanassets toBarclays.469 Residential:Therealizablevalueofafixed assetaftercostsassociatedwiththesale.470 SeeStructuredAssetSecurities Corporation. SeeLehmanScottishFinanceL.P.Lehman Brothersaffiliatethatfiledforbankruptcy onOctober5,2008.471Exceptwherethe specificidentityofanentityisrelevant andsetout,thisReportwilluseLehman torefertoLBHIandallofitsaffiliates. SeeSecuritiesandExchangeCommission. SeeSecuritiesandExchangeCommission OfficeofInspectorGeneral. Debtguaranteedbythepledgeofassetsor othercollateral.472

SaleOrder

SalvageValue

SASCorSASCO

ScottishFinance

SEC SEC/OIG

SecuredDebt

468OfficeofThriftSupervision,ReportofExaminationforLehmanBrothersBankFSB(Aug.6,2007),at p.1[LBEXOTS000086]. 469OrderAuthorizingSaleofPurchasedAssetsfromLehmantoBarclays,DocketNo.258,InreLehman Bros.HoldingsInc.,No.0813555(Bankr.S.D.N.Y.Sept.20,2008). 470JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms479(4th ed.1995). 471LehmanScottishFinanceL.P.VoluntaryBankruptcyPetition,DocketNo.1,InreLehmanScottish FinanceL.P.,No.0813904(Bankr.S.D.N.Y.Oct.5,2008). 472JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms510(4th ed.1995).

81

SecuredLoan

Loanguaranteedbythepledgeofassetsor othercollateral.473 Governmentalorganizationthatwas createdtoprotectinvestors,maintainfair, orderlyandefficientmarketsandfacilitate capitalformation.475 DivisionoftheSECthatconductsinternal auditsandinvestigationsofSECprograms andoperations.Throughtheseauditsand investigations,theInspectorGeneralseeks toidentifyandmitigateoperationalrisks, enhancegovernmentintegrity,and improvetheefficiencyandeffectivenessof SECprograms.477

SecuritiesandExchangeCommission (SEC)474

SecuritiesandExchangeCommission OfficeofInspectorGeneral (SEC/OIG)476

SecuritiesandExchangeCommissionStaff StaffAccountingBulletinsreflectthe AccountingBulletin Commissionstaffsviewsregarding accountingrelateddisclosurepractices. Theyrepresentinterpretationsandpolicies followedbytheDivisionofCorporation FinanceandtheOfficeoftheChief Accountantinadministeringthe disclosurerequirementsofthefederal securitieslaws.478 SecuritiesActof1933 ThefirstlawenactedbytheU.S.Congress toregulatethesecuritiesmarkets.479

473Id. 474ExaminersReport,atIntroduction. 475SecuritiesandExchangeCommissionWebsite,http://www.sec.gov/about/whatwedo.shtml(last visitedJan.28,2010). 476ExaminersReport,atIII.A.6.b. 477SecuritiesandExchangeCommissionWebsite,http://www.sec.gov/about/whatwedo.shtml(last visitedJan.28,2010). 478Id. 479JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms517(4th ed.1995).

82

SecuritiesExchangeActof1934

U.S.legislationintroducingenforcement provisionsfortheSecuritiesActof1933.480

SecuritiesInvestorProtectionAct(SIPA) LawthatestablishedtheSecurities InvestorProtectionCorporation (SIPC).481 SecuritiesInvestorProtectionCorporation (SIPC) Anonprofitcorporationthatinsuresthe securitiesandcashinthecustomers accountsofmemberbrokeragefirms againstthefailureofthosefirms.482 TheSecuritiesInvestorProtection Corporationeitheractsastrusteeorworks withanindependentcourtappointed trusteeinamissingassetcasetorecover funds.483 Securitization Theprocessofturningassetsinto securities.Generallythisinvolvesone partysellingaportfolioofassetstoa specialpurposevehicle,whofinancesthe purchasebypackagingthecashflows fromtheseassetsastradablesecurities, whicharesoldtoinvestors.484 Amortgagethathasbeenconvertedintoa marketablesecurity.485

SecuritizedMortgage

480Id. 48115U.S.C.78aaa78lll(2006). 482JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms518(4th ed.1995). 483SecuritiesInvestorProtectionCorporationWebsite,http://www.sipc.org/who/who.cfm(lastvisited Jan.28,2010). 484JonathanLawBA,TheOxfordDictionaryofFinanceandBanking397(4thed.2008). 485Id.

83

Security

Afinancialasset,includingshares, governmentstocks,debentures,bonds, mutualfunds,etc.Insurancepoliciesare notsecurities.486 CongressgivesSROstheauthorityto regulate,policeanddisciplinethosewho participateintheirmarkets,subjecttothe supervisionofthefederalagencies.488 Draftguaranty,clearingandsecurity agreementssentbyJPMorgantoAndrew Yeung,inhousecounselatLehmanon September9,2008,thatdramatically expandedthescopeofJPMorganslien andthescopeofobligationsguaranteedby LBHI.489 Anagreementbetweentheparties involvedtosetoffonedebtagainst anotheroronelossagainstagain.490 SeeStatementofFinancialAccounting Standard. Sharesthatanindividualhassoldby deliveryofborrowedcertificatesandhas notcoveredasofaparticulardate.491

SelfRegulatoryOrganization(SRO)487

SeptemberAgreements

Setoff

SFAS

ShortPosition

486Id. 487ExaminersReport,atIII.B.3.g. 488Id.;BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary294(2003). 489ExaminersReport,atIII.B.3.g. 490JonathanLawBA,TheOxfordDictionaryofFinanceandBanking401(4thed.2008). 491JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms532(4th ed.1995).

84

ShortSelling

Sellingborrowedcommodities,securities, currencies,etc,withthecommitmentto repurchaseitatanunspecifiedlaterdate. Atechniqueusedtotakeadvantageof anticipateddeclineinthepriceofa security.492 Alldebtobligationscomingduewithin oneyear.493 AlimitthatLehmansRiskManagement imposedonthesizeofsingletransactions inordertolimitthemaximumlossthe firmcouldexperienceintheeventthatany onemarketparticipantwasaffected negatively.494 SeeSecuritiesInvestorProtectionAct. SeeJamesW.Giddens.Trusteeappointed pursuanttotheSecuritiesInvestor ProtectionActof1970,withsimilar powersandrightstoaTrusteeunderthe BankruptcyCode,howevertheSIPA Trusteehasadditionalpowersto effectuatealiquidation.495 SeeSecuritiesInvestorProtection Corporation.

ShortTermDebt

SingleTransactionLimit(STL)

SIPA SIPATrustee

SIPC

4923PeterNewman&MurrayMilgate&JohnEatwell,TheNewPalgraveDictionaryofMoneyandFinance 44546(1992);JonathanLawBA,TheOxfordDictionaryofFinanceandBanking406(4thed.2008). 493JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms533(4th ed.1995). 494MadelynAntoncic,Lehman,StandardRiskManagementPresentation,atp.21[LBEXDOCID 194031]. 49515U.S.C.78fff1(a)(2006).

85

SIV

SeeStructuredInvestmentVehicle.

SocietyforWorldwideInterbankFinancial Acommunicationssystemthatadvises Telecommunication(SWIFT) memberbankstotransferfundsfromone membertoanother.496 Solvency Insolvencyisthefinancialconditionsuch thatthesumoftheentitysdebtsisgreater thanallofsuchentitysproperty,atafair valuation.497Afirmissolventifitis deemednottobeinsolvent. SeeLBSomersetLLC. Theabilitytomanagesovereignrisk, whichis:(1)Therisktoalenderthatthe servicingofitsloanstoaforeignborrower maybeabridged,frozen,ordeniedbyacts of,orconditionsin,thenationwherethe borrowerislocated.Thisrisk,sometimes calledcountryriskisunrelatedtothe actualborrowerscapacitytorepay.(2)In amorelimitedsense,theriskthata foreigngovernmentmaydefaultonits borrowings.498

Somerset SovereignRiskManagement

496JonathanLawBA,TheOxfordDictionaryofFinanceandBanking411(4thed.2008). 49711U.S.C.101(32)(A)(2006)(definitionapplicabletoentitiesotherthanapartnershipor municipality). 498AmericanBankersAssociationBanking&FinanceTerminologyp.355(4thed.1999).

86

SovereignWealthFund

Assetsheldbygovernmentsinanother countryscurrency.Allcountrieshave foreignexchangereserves.Whena country,byrunningacurrentaccount surplus,accumulatesmorereservesthanit feelsitneedsforimmediatepurposes,it cancreateasovereignfundtomanage thoseextraresources.499 SeeStandard&Poors. Alegalentityestablishedforthesakeofa singletransaction,forexample,inthe creditenhancementofasecuritization.502 Lehmansplantospinoffitscommercial realestateholdingstoitsshareholders, preservingassetvaluethroughthe creationofanewentitythatwouldnotbe subjecttomarktomarketaccounting.503 Aformofdivestiturethatresultsina subsidiaryordivisionbecomingan independentcompany.504 1.FixedIncomeSecurities:thedifference betweenyieldsonsecuritiesofthesame qualitybutdifferentmaturities; 2.StocksandBonds:thedifference betweenthebidandofferprice.505

S&P SpecialPurposeVehicle(SPV)500/ SpecialPurposeEntity(SPE)501

SpinCo

Spinoff

Spread

499SimonJohnson,TheRiseofSovereignWealthFunds,FINANCEANDDEVELOPMENT,Sept.2007,at56, availableathttp://www.imf.org/external/pubs/ft/fandd/2007/09/straight.htm. 500ExaminersReport,atIII.A.6.c. 501ExaminersReport,atIII.A.2.f. 502JonathanLawBA,TheOxfordDictionaryofFinanceandBanking414(4thed.2008). 503ExaminersInterviewofHughE.McGeeIII,Aug.12,2009atp.2324. 504JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms546(4th ed.1995).

87

SRM SRO Standard&Poors(S&P)506

SeeSovereignRiskManagement. SeeSelfRegulatoryOrganization. Internationalindependentproviderof creditrating.507 AdocumentissuedbytheFinancial AccountingStandardsBoard(FASB), whichdetailsaccountingstandardsand providesguidanceonselectedaccounting policiessetoutbytheFASB.Asgenerally acceptedaccountingprinciples,they shouldbefollowedbyaccountantsin preparingfinancialstatements.508 SFAS140governs,inpart,whento recognizeatransferofassetsasafinancing transactionor,alternatively,asasale.510 AlthoughSFAS140moreoftenis discussedinthecontextofsecuritization transactions,aparticularprovisionof SFAS140permitsthetransferorofassets inarepoagreementtorecharacterizea repotransactionasasalewithaforward purchasecommitmentifthetransaction satisfiescertaincriteria.Theeffectofthis recharacterizationisthatthesecurities involvedinthetransactionare derecognized,orremoved,fromthe transferorsbalancesheet.

StatementofFinancialAccounting Standard(SFAS)

StatementofFinancialAccounting StandardsNo.140(SFAS140)509

505Id.at548. 506ExaminersReport,atIII.A.4.f. 507Standard&PoorsWebsite,http://www.standardandpoors.com/aboutsp/main/en/us(lastvisitedJan. 28,2010). 508JonathanLawBA,TheOxfordDictionaryofFinanceandBanking423(4thed.2008). 509ExaminersReport,atIII.A.4.

88

StatementofFinancialAccounting StandardsNo.157(SFAS157)

Accountingstandardregardingthe valuationofdifferenttypesofassets, categorizedasLevelI,LevelIIandLevel III,indescendingorderofvaluation transparency.511

StatementofFinancialAffairs(SOFA)512 Financialstatementspreparedforthe BankruptcyCourtbyLehmans management,withtheassistanceoftheir advisors,inaccordancewithSection521of theBankruptcyCodeandBankruptcy Rule1007.513 STL StockExchange SeeSingleTransactionLimit. Amarketforthesaleandpurchaseof securities,inwhichthepricesare controlledbythelawsofsupplyand demand.514 Amethodofriskanalysisinwhich simulationsareusedtoestimatethe impactofworstcasesituations.515 Lehmansubsidiarythatfiledfor bankruptcyonFebruary9,2009.516

StressTest

StructuredAssetSecuritiesCorporation

510ACCOUNTINGFORTRANSFERSANDSERVICINGOFFINANCIALASSETSANDEXTINGUISHMENTSOF LIABILITIES,StatementofFinancialAccountingStandardsNo.140,2,98(FinancialAccounting ServicesBd.2000). 511SeegenerallyFAIRVALUEMEASUREMENT,StatementofFinancialAccountingStandardNo.157 (FinancialAccountingServicesBd.2000). 512ExaminersReport,atIII.B.3.g. 513SeeGlobalNotesPertainingtoDebtorsSchedulesandStatements,InreLehmanBros.HoldingsInc., No.0813555,atp.2(Bankr.S.D.N.Y.Mar.13,2009). 514JonathanLawBA,TheOxfordDictionaryofFinanceandBanking423(4thed.2008). 515Id.at425. 516StructuredAssetSecuritiesCorp.VoluntaryBankruptcyPetition,DocketNo.1,InreStructuredAsset SecuritiesCorp.,No.0910558(Bankr.S.D.N.Y.Feb.9,2009).

89

StructuredInvestmentVehicle

Afundthatraisesfinancingbyselling assetbackedcommercialpaperand mediumtermednotesandinvests predominantlyinassetbacked securities.517 Abondthatincludesanembedded derivativethatisdesignedtocreatea payoffthatfitstherequirementsofa specificinvestor.518 TheperiodbetweenSeptember15,2008 andthedatethatanLBHIaffiliate commenceditsChapter11case.519 Anagreementthatpermitsadebtthat wouldnormallybejunior(thatis, repayableonlyafterotherdebtswitha higherclaimhavebeensatisfied)tohave preferenceoveraseniorclaim.520

StructuredNote/Transaction

StubPeriod

SubordinationAgreement

517JonathanLawBA,TheOxfordDictionaryofFinanceandBanking426(4thed.2008). 518BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary316(2003). 519ExaminersReport,atIII.B.2.b. 520JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms569(4th ed.1995)(undersubordinated).

90

Subprime

Atermusedtodescribeasegmentofthe residentialmortgagelendingmarketin whichborrowershadcreditprofilesthat werebelowprimeorlessthanprime. Subprimedefinitionswerenotuniform amongmarketparticipants,butfederal guidelinesissuedin2001defined subprimeintermsofarangeofcredit characteristicsincludingrecent delinquencies,foreclosuresor bankruptcies;aFICOcreditscoreofless than660;andadebttoincomeratioof 50%ormore.521Lehmanlaterdefined subprimeasencompassingborrowers havinga[FICO]creditscoreintherange of620orlower.522 Theprovisionofloanstoborrowerswitha poorcreditrating.523 Acompanyofwhichmorethan50%ofthe votingsharesareownedbyanother corporation,calledtheparentcompany.524

SubprimeLending

Subsidiary

521OfficeoftheComptrolleroftheCurrency,etal.,ExpandedGuidanceforSubprimeLendingPrograms (Jan.31,2001),atp.3,availableat http://www.federalreserve.gov/boarddocs/press/boardacts/2001/20010131(followGuidancelink belowpressrelease)(lastvisitedFeb.3,2010). 522LetterfromChristopherM.OMeara,Lehman,toJeffreyGordon,UnitedStatesSecuritiesand ExchangeCommission,reLehmansSubprimeDefinition(Aug.16,2007),atp.2[LBEXDOCID 240774];LBHI200710K,atp.105n.1. 523JonathanLawBA,TheOxfordDictionaryofFinanceandBanking426(4thed.2008). 524JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms571(4th ed.1995).

91

Swap

1.Ameansbywhichaborrowercan exchangethetypeoffundsmosteasily raisedforthetypeoffundsrequired, usuallythroughtheintermediaryofa bank; 2.anexchangeofonesecurityforanother tochangethematuritiesofabond portfolioorthequalityoftheissuesina stockorbondportfolio,orbecause investmentobjectiveshaveshifted.525

SWIFT

SocietyforWorldwideInterbankFinancial Telecommunications.Acommunications systemthatadvisesmemberbanksto transferfundsfromonememberto another.526 Uponbringinganewstockordebtissueto market,thecreationofagroupofother banksthatwilltakesomeofthenewissue andspreadtherisk.527 SeeTermAuctionFacility. Representingeventsoflowprobability.528 Lehmanreferredtotailriskasaonein10 yeartypeevent.529

Syndicate

TAF TailRisk

TangibleAssets

Fixedassetsofanorganizationexcluding suchintangibleassetsasgoodwill, intellectualproperty,etc.530

525Id.at576;JonathanLawBA,TheOxfordDictionaryofFinanceandBanking428(4thed.2008). 526JonathanLawBA,TheOxfordDictionaryofFinanceandBanking319(4thed.2008). 527BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary319(2003). 528JonathanLawBA,TheOxfordDictionaryofFinanceandBanking431(4thed.2008). 529ExaminersReportatIII.A.1.b. 530JonathanLawBA,TheOxfordDictionaryofFinanceandBanking432(4thed.2008).

92

TARP TermAuctionFacility

SeeTroubledAssetReliefProgram. FederalReservefacilitycreatedtoprovide depositoryinstitutionswithanadditional sourceofshorttermcreditinresponseto problemsinthesubprimehousing market.531 FederalReserveonemonthsecuritiesterm loanfacilityforprimarydealersinwhich theFedlendsTreasurysecuritiesin exchangeforprogrameligiblegeneral collateral;createdinMarch2008tofoster improvedliquidityofsomemortgage backedsecurities.533 Equitycapitalheldbyabankagainstits risks.534CoreCapital(orTier1)consists of:commonstockholdersequity, qualifyingnoncumulativeperpetual preferredstock,qualifyingcumulative perpetualpreferredstockandminority interestinequityaccountsofconsolidated subsidiarieslessgoodwill,otherintangible assets,creditenhancinginterestonlystrips andothernonfinancialequityinvestments requiredtobedeductedfromcapital.535 Tobuyorsellinamarket.536

TermSecuritiesLendingFacility (TSLF)532

Tier1Capital

Trade

531NewYorkFed.org,FinancialTurmoilTimeline, http://www.newyorkfed.org/research/global_economy/Crisis_Timeline.pdf(lastvisitedJan.27,2010). 532ExaminersReport,atIII.A.5.i. 533FederalReserveBankofNewYorkWebsite,http://www.newyorkfed.org/markets/tslf.html(last visitedFeb.2,2010). 534JonathanLawBA,TheOxfordDictionaryofFinanceandBanking439(4thed.2008). 53512C.F.R.225,App.A(2007). 536JonathanLawBA,TheOxfordDictionaryofFinanceandBanking442(4thed.2008).

93

TradesGroup

AlsoreferredtoastheFinancing Module,asetofreportingfunctionsthat theExaminersfinancialadvisorsdrew upontoextractrelevantdatafieldsfrom Lehmansgeneralcorporateledger (DBS). Thefinancialobligationsheldbyadealer oraninstitutiontradingonfinancial markets.537 Thedepartmentthatisresponsiblefor executingsecuritiestransactions.538 Inasecuritization,anyofseveralclassesof debtinstrumentscreatedfromthesame poolofassetsbuthavingdifferentrisk returnprofilestoattractdifferentclassesof investors.539 SeeLehmanGlobalTreasuryGroup. PartoftheEmergencyEconomic StabilizationActof2008,designedto provideauthorityfortheFederal Governmenttopurchaseandinsure troubledassetsfromfinancial institutions.541

TradingBook

TradingDesk

Tranche

TreasuryGroup TroubledAssetReliefProgram (TARP)540

537Id.at443. 538BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary99(2003)(listedunderdesk). 539JonathanLawBA,TheOxfordDictionaryofFinanceandBanking444(4thed.2008). 540ExaminersReport,atIntroduction. 541EmergencyEconomicStabilizationActof2008,Pub.L.No.110343(codifiedinscatteredtitlesand ofU.S.C.).

94

TrueSaleOpinionLetter

Legalinterpretationtosupportafirms assertionthatatransactionmetthecriteria inparagraph9(a)ofFAS140.542 SeeTermSecuritiesLendingFacility. Areferencetothenumberofemployees replacedinagivenperiod.543 SeeUniformCommercialCode. CashdeedsLehmanexecutedonAugust 9,2008thatweredemandedbyHSBCto collateralizeLehmansU.K.deposits.544 Aninvestmentbankerwhoagreesto purchaseanewissueofsecuritiesfroman issueranddistributeittoinvestors, makingaprofitontheunderwriting spread.545 LegalcodeadoptedbymostU.S.states, thatcodifiesvariouslawsdealingwith commercialtransactions,primarilythose involvingthesaleofgoodsandsecured transactions.547

TSLF Turnover

UCC U.K.CashDeeds

Underwriter

UniformCommercialCode(UCC)546

542LehmanBrothersHoldingsInc.,AccountingPolicyManualforRepo105andRepo108(Sept.9,2006), atp.1[LBEXDOCID3213290]. 543JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms623(4th ed.1995). 544ExaminersReport,atIII.A.5.b. 545JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms628(4th ed.1995). 546ExaminersReport,atIII.A.4.a. 547JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms631(4th ed.1995).

95

UnitedStatesBankruptcyCourtforthe SouthernDistrictofNewYork (BankruptcyCourt) UnitedStatesDepartmentofVeterans AffairsorVeteransAdministration (VA)549

BankruptcycourtinthecaseofInre LehmanBros.HoldingsInc.,No.0813555 (Bankr.S.D.N.Y).548 In1930CongressauthorizedthePresident toconsolidateandcoordinate Governmentactivitiesaffectingwar veterans.Threecomponentagencies becamebureauswithintheVeterans Administration.TheDepartmentof VeteransAffairs(VA)wasestablishedasa CabinetlevelpositiononMarch15, 1989.550 TrusteeappointedpursuanttoBankruptcy Code.551 Obligationnotbackedbyapledgeof collateral.552 Tocloseoutafinancialpositionbyselling ormakinganoffsettingtransaction.553 SeeUnitedStatesDepartmentofVeterans AffairsorVeteransAdministration. Placingavalueorworthonanasset.554

UnitedStatesTrustee(U.S.Trustee)

Unsecured(DebtorLoan)

Unwind

VA

Valuation

548See,e.g.ExaminerOrder,DocketNo.2569,InreLehmanBros.HoldingsInc.,No.0813555(Bankr. S.D.N.Y.Jan.16,2009). 549ExaminersReport,atIII.a.2.f. 550TheDepartmentofVeteransAffairsWebsite,http://www4.va.gov/about_va/vahistory.asp(last visitedFeb.3,2010). 55111U.S.C.307(2006). 552JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms636(4th ed.1995). 553JonathanLawBA,TheOxfordDictionaryofFinanceandBanking455(4thed.2008). 554JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms639(4th ed.1995).

96

ValuationControlGroup

InternalLehmangroupwithintheProduct ControlGroup,thatperformedan independentpriceverificationofcertain assetsonamonthlybasis.555 Ameasureofrisk,mostfrequentlyapplied tomeasuringcreditriskandmarket risk.556 TheBankruptcyCourtappointedAntonR. ValukasExamineronJanuary16,2009.557 IntegrationGenerally:Thecombinationof twoormorecompaniesunderthesame controlfortheirmutualbenefit. VerticalIntegration:Acompanyobtains controlofitssuppliersoroftheentities thatbuyitsproductsorservices.558

ValueatRisk(VaR)

AntonR.Valukas(Examiner)

VerticalIntegration

VeteransAdministration

SeeUnitedStatesDepartmentofVeterans AffairsorVeteransAdministration. Thecharacteristicofasecurity,commodity ormarkettoriseorfallsharplyinprice withinashorttermperiod.559 Lehmancreditorthatfiledthemotionto haveanExaminerappointedinthe LehmanBankruptcyproceeding.561

Volatility

TheWaltDisneyCompany(WaltDisney Co.)560

555Lehman,PriceVerificationPolicy:GlobalCapitalMarkets2008[Draft](2008),atp.4 [LBHI_SEC07940_2965994]. 556JonathanLawBA,TheOxfordDictionaryofFinanceandBanking456(4thed.2008). 557OrderApprovingAppointmentofExaminer,DocketNo.2583,InreLehmanBros.HoldingsInc.,No. 0813555(Bankr.S.D.N.Y.Jan.20,2009). 558JonathanLawBA,TheOxfordDictionaryofFinanceandBanking231(4thed.2008). 559JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms647(4th ed.1995). 560ExaminersReport,atIII.B.5.c.

97

WeightedAverageCostofCapital (WACC) Weil,Gotshal&MangesLLP(Weil)

Theaveragecostthatafirmhastopayfor thecapitalthatitborrows.562 LawfirmthathandledLehmansChapter 11bankruptcypetition.563 Termthatdistinguishesaninvestment representinganoriginalresidential mortgageloan(wholeloan)fromaloan representingaparticipationwithoneor morelendersorapassthroughsecurity representingapoolofmortgages.564 SeeMarkdown.Anegativeadjustmentto thevalueofanassetforaccounting purposes,accordingtogenerallyaccepted accountingprinciples(GAAP).565 Thereturnthatisearnedonan investment.566 Aplotoftheinterestrateyieldsonbonds withdifferingtermstomaturity.567

WholeLoan

WriteDown

Yield

YieldCurve

561NoticeofHearingonMotionoftheWaltDisneyCo.fortheAppointmentofanExaminerpursuantto 1104(c)(2)oftheBankruptcyCode,DocketNo.1143,InreLehmanBros.HoldingsInc.,No.0813555 (Bankr.S.D.N.Y.Oct.20,2008). 562BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary347(2003). 563SeeExaminersReport,atIII.A.3.c. 564JohnDownes&JordanElliotGoodman,BarronsDictionaryofFinanceandInvestmentTerms655(4th ed.1995). 565Id.at661. 566BarbaraJ.Etzel,WebstersNewWorldFinanceandInvestmentDictionary356(2003). 5673PeterNewman&MurrayMilgate&JohnEatwell,TheNewPalgraveDictionaryofMoneyandFinance 816(1992).

98

APPENDIX3:KEYINDIVIDUALS
The following table identifies key individuals who are discussed in the ExaminersReport. Name Abary,Raymond Ainslie,MichaelL. Organization LehmanBrothers LehmanBrothers Position1 CashManagement Director; MemberofAuditCommittee; DirectorLehmanBrothers Bank Director; ChairofCompensationand BenefitsCommittee; MemberofFinanceandRisk Committee GeneralCounsel GlobalHeadofLiquidMarkets FixedIncomeDivision SeniorVicePresidentBank SupervisionDepartment SeniorDirector

Akers,JohnF.

LehmanBrothers

Alvarez,Scott Amin,Kaushik Angulo,ArthurG. Ankalkoti,Rajesh Antoncic,Madelyn Appel,NikkiG. Azerad,Robert Babar,Usman Barancik,GaryS.

FederalReserve LehmanBrothers FRBNY A&M LehmanBrothers JPMorgan

FormerChiefRiskOfficer ManagingDirector&Associate GeneralCounsel LehmanBrothers GlobalHeadofAsset& LiabilityManagement LehmanBrothers ProductController SecuritizedProducts PerellaWeinbergPartners KoreaDevelopmentBanks LP U.S.Advisor

1 Except where noted, the position listed is as of September 15, 2008, and is not a complete list of the

witnesspositionsortitles.

 Name Barsanti,AnthonyJ. Baxter,Jr.,ThomasC. Beeson,Lisa Organization LehmanBrothers FRBNY LehmanBrothers Position1 SeniorVicePresident PrincipalTransactionsGroup GeneralCounsel&Executive VicePresident HeadofRealEstateMergers andAcquisitionsInvestment BankingDivision ChairmanoftheTransaction ApprovalCommittees; ChiefInvestmentOfficerfor PrivateEquityDivision; HeadofLegal,Compliance andAuditDivision Director; MemberofAuditCommittee; MemberofFinanceandRisk Committee Chairman ChiefFinancialOfficerFixed IncomeDivision BusinessandRiskManager ProprietaryTradingGroupfor LiquidMarketsProducts; DirectorLehmanBrothers FinancialProducts; DirectorLehmanBrothers DerivativeProducts ChiefExecutiveOfficer LehmanAsiaPacific GlobalHeadofHuman Resources

Berkenfeld,Steven

LehmanBrothers

Berlind,Roger

LehmanBrothers

Bernanke,BenS. Bernard,Clement Bhalloo,Murtaza

FederalReserve LehmanBrothers LehmanBrothers

Bhattal,Jasjit(Jesse) Binkley,Tracy

LehmanBrothers LehmanBrothers

 Name Birney,Janet Organization LehmanBrothers Position1 GlobalHeadofNetwork ManagementTreasury Department FormerSeniorVicePresident BalanceSheetGroup CoChiefExecutiveOfficerof JPMorganInvestmentBank ManagingDirector Operations,CapitalMarkets, InvestmentManagement Division DirectorFinancialInstitutions Group VicePresidentPrimeDealer MonitoringUnit RepresentedFRBNYin connectionwithLehmans bankruptcyfilingandthe Barclayssale HeadofExecutive CompensationandEmployee BenefitsGroup; RepresentedLehmanin connectionwiththeBarclays sale ChairmanandChiefExecutive Officer FinancialAdvisorfor CreditorsCommittee AssistantVicePresident DomesticMoneyMarkets Group FirstVicePresidentFinancial OperationsRegulatory Reporting

Bismal,Anuraj Black,StevenD. Blackwell,Alastair

LehmanBrothers JPMorgan LehmanBrothers

Bridge,Guy Brodows,William Bromley,James

HSBC FRBNY ClearyGottlieb

Brown,AlvinH.

SimpsonThacher

Buffett,WarrenE. Burian,Saul Burke,Christopher

BerkshireHathaway HoulihanLokeyHoward &ZukinCapital,Inc. FRBNY

Burke,William

LehmanBrothers

 Name Burruel,MarieJean BuyersRusso,Jane Callan,ErinM. Organization BNCMortgageInc. JPMorgan LehmanBrothers Position1 FormerDueDiligence Manager HeadofSecuritiesIndustry CoverageGroup ChiefFinancialOfficerfrom December2007June2008; FormerHeadofGlobalHedge FundCoverage SeniorVicePresident& DeputyGeneralCounsel VicePresidentGCCMGroup CollateralRiskManager TreasuryandSecurities Services ViceChairmanandHeadof LehmanBrothersAsia InvestmentBanking ManagerForeignExchange OperationsGroup ChiefFinancialOfficer LBIBoardMember ManagingDirectorPrime ServicesGroup SeniorVicePresidentHeadof ProductControlGroupin GlobalRealEstateGroup ManagingDirectorHeadof U.S.Originations,GlobalReal EstateGroup ChiefOperatingOfficerfor HumanResources GlobalHeadofU.S.Fixed IncomingClearing Chairman Chairman

Cawley,Jean Chan,Jay Chiavenato,RicardoS.

OptionsClearing Corporation LehmanBrothers JPMorgan

Cho,Kunho

LehmanBrothers

ChuFong,Francois Clackson,Patrick Clark,Jr.,Howard Coghlan,John Cohen,Jonathan

LehmanBrothers BarclaysCapital LehmanBrothers LehmanBrothers LehmanBrothers

Cohen,Kenneth

LehmanBrothers

Collerton,AnthonyJ. Corral,EdwardJ. Cox,Christopher Cox,Jr.,Archibald

LehmanBrothers JPMorgan SEC BarclaysAmerica

 Name Cruikshank,Thomas Organization LehmanBrothers Position1 Director; ChairofAuditCommittee; MemberofNominatingand CorporateGovernance Committee ViceChairman; CorporateDevelopmentand GlobalCorporatePlanningand Strategy DivisionofTradingand Markets ChancelloroftheExchequer BarclaysCounselduring negotiationsoftheBarclays sale PresidentofBarclaysCapital ManagingDirector InvestmentBank,overseeing tripartyrepobusiness HeadofRiskManagementof InvestmentBanking RegionalHeadforFixed IncomeRepo,MiddleOffice LehmansStrategicAdvisor FormerCreditorsCommittees Counsel President GlobalHeadofCreditRisk Management ChiefExecutiveOfficerand ChairmanoftheBoard ManagingDirectorRisk ManagementinClearing HouseDivision

Curl,GregoryL.

BankofAmerica

Danis,Michelle Darling,Alistair Davis,Robert

SEC U.K.Government ClearyGottlieb

delMissier,Jerry Delany,CraigM.

Barclays JPMorgan

Dellosso,Donna Denig,Nancy Descoteaux,David Despins,Luc Diamond,RobertE. DiMassimo,Vincent Dimon,JamesL.(Jamie) Doar,Timothy

JPMorgan LehmanBrothers LazardFrres&Co. MilbankTweed Barclays LehmanBrothers JPMorgan ChicagoMercantile Exchange

 Name Doctoroff,MarkG. Organization JPMorgan Position1 ExecutiveDirectorof InvestmentBanking; JPMorgansprimary relationshipmanagerfor LehmanBrothers StaffMemberinvolvedin SECsCSEProgram ChiefExecutiveOfficer ManagingDirector HeadofGlobalForeign ExchangeOperatingGroup AssistantDirectorDivisionof TradingandMarkets; InvolvedinSECsCSE Program President FinancialAdvisorfor CreditorsCommittee HeadofCompensation Control; GlobalStrategiesProducts Controller SeniorVicePresidentGlobal HeadofFunding

Doherty,Raymond Donahue,DonaldF. Donaldson,Jeffrey Eby,Robert Eichner,Matthew

SEC DepositoryTrustand ClearingCorporation Alvarez&Marsal LehmanBrothers SEC

Einhorn,David Eisenband,MichaelC. Emmert,James

GreenlightCapital FTIConsulting,Inc. LehmanBrothers

Engel,StevenJ.

LehmanBrothers

 Name Evans,MarshaJohnson Organization LehmanBrothers Position1 Director; ChairofNominatingand CorporateGovernance Committee; MemberofCompensationand BenefitsCommittee; MemberofFinanceandRisk Committee HeadofCompensation AnalyticsforInvestment Banking ManagingDirectorLead AnalystforBigFiveBroker Dealers(LehmanBrothers, BearStearns,MerrillLynch, GoldmanSachsandMorgan Stanley) SeniorVicePresidentCapital Markets,PrimeServicesGroup FinancialAdvisorfor CreditorsCommittee FormerManagingDirector FinancialAcquisitionsDue Diligence; FormerHeadLegalEntity Controller CoHeadofGlobalFixed IncomeDivisionbeginningin September2008; GlobalHeadofGlobalCredit ProductsbeginninginJune 2008

Exall,Paul

LehmanBrothers

Fahey,EileenA.

Fitch

Farup,Sven Fazio,Michael Feibus,Clifford

LehmanBrothers HoulihanLokeyHoward &ZukinCapital,Inc. LehmanBrothers

Felder,Eric

LehmanBrothers

 Name Fennell,John Organization OptionsClearing Corporation LehmanBrothers WeilGotshal SimpsonThacher Position1 FirstVicePresidentofRisk ManagementandTreasury Operations HeadofSecuredFundingDesk PrimeServicesGroup DebtorsCounsel RepresentedLehmanin connectionwiththeBarclays sale SeniorVicePresidentGlobal CashandCapitalManagement SeniorRiskManager VicePresidentTreasury FundingandInvestment Management ManagingDirectorGlobal HeadofFinancialInstitutions Group ManagingDirector LBIBoardMember ChiefAdministrativeOfficer MortgageCapitalDivision CoChiefAdministrative Officer Chairman; ChiefExecutiveOfficer; ChairofExecutiveCommittee GlobalCorporateServices HeadofSecuredFinancing Desk FinancialAdvisorfor CreditorsCommittee

Feraca,John Fife,Lori Finley,JohnG.

Fleming,DanielJ. Fontana,Thomas Forsyth,David

LehmanBrothers Citibank LehmanBrothers

Foskett,ChristopherM.

Citibank

Fox,William Frank,Frederick FranksHarber,Lana Freidheim,ScottJ. Fuld,Jr.,RichardS.

Alvarez&Marsal LehmanBrothers LehmanBrothers LehmanBrothers LehmanBrothers

Gargiulo,KellyL. Gavin,Mark Geer,Bradley

LehmanBrothers LehmanBrothers HoulihanLokeyHoward &ZukinCapital,Inc.

 Name Geithner,TimothyF. Organization FRBNY Position1 President; Currently,U.S.Secretaryofthe Treasury GlobalHeadofFixedIncome DivisionuntilMay2007; GlobalHeadofCapital MarketsbeginninginJune 2008 Director; MemberofAuditCommittee; MemberofCompensationand BenefitsCommittee ChiefFinancialOfficerfor FixedIncomeDivision SIPATrustee StaffMemberinvolvedin SECsCSEProgram CoHeadofCommodities ChiefStrategyOfficer beginninginJune2008; FormerGlobalHeadof StrategicPartnerships, PrincipalInvesting,andRisk fromOctober2006untilJune 2008

Gelband,Michael

LehmanBrothers

Gent,SirChristopher

LehmanBrothers

Gentile,Joseph Giddens,JamesW. Giles,James Gold,Joe Goldfarb,David

LehmanBrothers HughesHubbard&Reed SEC Barclays LehmanBrothers

Goldsmith,Brad Goodman,Jeffrey

Alvarez&Marsal LehmanBrothers

Gordon,WilliamB.

Alvarez&Marsal

SeniorAssociate SeniorRiskManagerFixed IncomeDivision,GlobalReal EstateGroup SeniorDirector

 Name Granfield,Lindsee Organization ClearyGottlieb Position1 BarclaysCounselduring negotiationsoftheBarclays sale U.S.SenatorStateofIowa President&ChiefOperating OfficeruntilJune12,2008 GlobalFinancialController untilDecember2007; HeadofInvestorRelations fromDecember2007June 2008; ControllerInvestment ManagementDivision beginninginJune2008 Director SeniorManagerLehman AuditTeam SeniorVicePresidentProduct Controller PartnerLehmanAuditTeam FormerRepurchase Underwriter LegalEntityControllerfor LuxembourgResidential PropertiesLoanFinance S.A.R.L. VicePresidentPayments Group Director; MemberofFinanceandRisk Committee OutsideCounselforLehman Brothers,involvedin JPMorgannegotiations

Grassley,CharlesE. Gregory,Joseph Grieb,Edward

UnitedStatesSenate LehmanBrothers LehmanBrothers

Grundhofer,JerryA. Gruner,Jerry Guarino,James Hansen,Hillary Harrison,Susan Haupt,Gerald

LehmanBrothers Ernst&Young LehmanBrothers Ernst&Young BNCMortgageInc. LehmanBrothers

Heller,Stephanie Hernandez,RolandA.

FRBNY LehmanBrothers

Hespel,PaulW.

GoodwinProctor

10

 Name Hinton,Diane Hogan,JohnJ. Hommel,ThomasE. Hraska,JamesW. Hughson,PaulA. Inaba,Gail Isaacs,JeremyM. Jackson,Jennifer Janulis,TheodoreP. Jones,CraigL. Organization Standard&Poors JPMorgan LehmanBrothers LehmanBrothers LehmanBrothers JPMorgan LehmanBrothers Ernst&Young LehmanBrothers LehmanBrothers Position1 DirectorofFinancial InstitutionsLehmanAnalyst ChiefRiskOfficerof InvestmentBanking InHouseCounselCoHead ofLitigation SeniorVicePresidentSecured FinancingOperations HeadofCreditDistribution GlobalRealEstateGroup AssociateGeneralCounsel FormerChiefExecutiveOfficer ofLBIE SeniorManagerLehman AuditTeam HeadofMortgageCapital Division SeniorVicePresident Treasury; HeadofCashandCollateral ManagementforAmericas BusinessManagerforGlobal RatesBusinessFixedIncome Division ExecutiveVicePresidentand ChiefInvestmentOfficer Director; ChairofFinanceandRisk Committee VicePresidentValuation ControlforGlobalRealEstate Group HeadofPrincipalCredit Trading

Joshi,Tejal

LehmanBrothers

Kandarian,StevenA. Kaufman,Dr.Henry

MetLife LehmanBrothers

Kebede,AbebualA.

LehmanBrothers

Keegan,Michael

Barclays

11

 Name Keller,AndrewR. Organization SimpsonThacher Position1 LehmanDisclosureCounsel, involvedinpreparing Lehmanspubliclyfiled financialstatements GlobalFinancialController fromDecember2007 September2008 HeadofUnitedStates AgenciesTradingDeskFixed IncomeDivision,until September8,2008 HeadofPrincipalMortgage TradingGroup GlobalHeadofPrincipal BusinessesfromJuly2008until September2008; CoChiefOperatingOfficer FixedIncomeDivisionfrom October2007January2008 ChairmanofInstitutional ClientsGroup,consultantto Barclays VicePresidentPrincipal TransactionsGroup DebtorsCounsel SeniorVicePresidentRisk Management ManagingDirector Chairman ChiefAdministrativeOfficer; ChiefExecutiveOfficerof BarclaysU.S.BrokerDealer ManagingDirectorReal EstateInvestmentBanking

Kelly,Martin

LehmanBrothers

King,Mitchell

LehmanBrothers

King,Stephen Kirk,Alex

Barclays LehmanBrothers

Klein,Michael

Citibank

Koutouvides,Aristides Krasnow,RichardP. Kritikos,Dimitrios Kruse,Philip Kwangwoo,Jun LaRocca,Gerard

LehmanBrothers WeilGotshal LehmanBrothers Alvarez&Marsal SouthKoreaFinancial ServicesCommission Barclays

Lazarus,DavisS.

LehmanBrothers

12

 Name Lederer,Amy Organization LehmanBrothers Position1 LegalEntityControllerforCES AviationLLC,CESAviationV LLC,&CESAviationIXLLC SIPATrusteesCounsel SeniorVicePresidentFinance Division,responsiblefor LehmansGlobalBalanceSheet andLegalEntityAccounting HeadofClientRelationship ManagementPrivateClient Group AssistantGeneralCounsel EnforcementandLitigation Division ChiefExecutiveOfficer BarclaysCounselduring negotiationsoftheBarclays sale GlobalHeadofMarketRisk ManagementforCredit, EmergingMarkets,Proprietary Credit,andMunicipal Products GlobalRelationshipsManager forFinancialInstitutions ChiefFinancialOfficerfrom June2008September2008; CoChiefAdministrative Officer DebtorsCounsel HeadofGlobalStrategy AssociateDirectorDivisionof MarketRegulation

Lee,KennethE. Lee,Matthew

HughesHubbard&Reed LehmanBrothers

Lessing,StephenM.

LehmanBrothers

Leventhal,ShariD.

FRBNY

Lewis,KennethD. Lewkow,VictorI.

BankofAmerica ClearyGottlieb

Li,Joe

LehmanBrothers

Lopez,PaulM. Lowitt,IanT.

HSBC LehmanBrothers

Lubowitz,MichaelE. Lyons,Timothy Macchiaroli,MichaelA.

WeilGotshal LehmanBrothers SEC

13

 Name Macomber,JohnD. Organization LehmanBrothers Position1 Director; MemberofExecutive Committee; MemberofCompensationand BenefitsCommittee; MemberofNominatingand CorporateGovernance Committee ExaminerinChargeLehman Review CoChiefExecutiveOfficer; ChiefRestructuringOfficerof Lehman ManagingDirectorGlobal ClearanceandCollateral Management ManagingDirectorFinancial Institutions,BrokerDealers GroupuntilDecember2008 VicePresidentofSpecial ProjectsLoanAdministration PaymentandPolicyFunction President&ChiefOperations OfficerfromJune2008to September2008; GlobalHeadofCapital MarketsEquitiesfrom2005to June2008 SeniorVicePresidentFinance Controller,FixedIncome Division GlobalHeadofInvestment Banking&SpinCoplan

Marcus,RonaldS. Marsal,BryanP.

OfficeofThrift Supervision Alvarez&Marsal

Mathieson,KellyA.

JPMorgan

Mauerstein,Michael

Citibank

May,Diane McCurdy,ChristopherJ. McDadeIII,HerbertH. (Bart)

AuroraLoanServices FRBNY LehmanBrothers

McGarvey,Michael

LehmanBrothers

McGeeIII,HughE.(Skip)

LehmanBrothers

14

 Name McKinney,Richard Organization LehmanBrothers Position1 HeadofSecuritizedProducts; FormerHeadofResidential MortgageTrading HeadofCashTradingLiquid MarketsDivision ChairofWeilGotshals BankruptcyDepartment; DebtorsCounsel ManagingDirectorFixed IncomeDivision,Subprime ResidentialMortgageTrading DebtorsCounsel Governor&ChiefExecutive Officer StaffMemberinvolvedin SECsCSEProgram ManagingDirector&Deputy GeneralCounsel VicePresidentLegalEntity ControllerGroup; LBSFController GlobalHeadofCapital MarketsFixedIncome DivisionbeginninginFebruary 2008 DebtorsCounsel ManagingDirectorGlobal CreditRiskManagement GlobalHeadofFixedIncome DivisionfromMay2007 January2008; ChiefExecutiveOfficeof LehmanEuropepriortoMay 2007

Michaels,Jeff Miller,HarveyR.

LehmanBrothers WeilGotshal

Miller,Matthew

LehmanBrothers

Miller,Rod Min,EuooSung Minnick,Phillip Montal,Isaac Montella,Michael

WeilGotshal KoreaDevelopmentBank SEC DepositoryTrustand ClearingCorporation LehmanBrothers

Morton,AndrewJ.

LehmanBrothers

Murgio,David Murray,Piers Nagioff,Roger

WeilGotshal JPMorgan LehmanBrothers

15

 Name Neighbor,Webster Nerby,PeterE. Organization LehmanBrothers Position1 GlobalRealEstateGroup BridgeEquityGroup MoodysInvestorServices SeniorVicePresident SecuritiesIndustryFinancial InstitutionsGroup; LeadAnalystassignedto Lehmanfrom1998to2003and BackUpAnalystfrom2004to 2008 MilbankTweed CreditorsCommittees Counsel LehmanBrothers ChiefFinancialOfficerfrom December2004December 2007; GlobalHeadofRisk Managementbeginningin December2007 LehmanBrothers SeniorVicePresidentReal EstateInvestmentBanking LehmanBrothers ManagingDirectorHigh YieldTrading; DirectorofLehman CommercialPaper,Inc. beginninginMay2008 WeilGotshal DebtorsCounsel LehmanBrothers ManagerTriParty RepurchaseOperations LehmanBrothers GlobalHeadofCommodities Trading LehmanBrothers AssociateRealEstate ValuationDivisionof ValuationandControl Department,involvedinprice testingLehmanscommercial book 16

ODonnell,DennisC. OMeara,ChristopherM.

OReilly,David Orlan,FredS.

Osterman,JeffreyD. Palchynsky,JohnN. Parikh,Satu Park,Jennifer

 Name Parr,Gary Paulson,Jr.,HenryM. Pellerani,Carlo Perlman,DavidM. Peterson,Carl Petrie,David Petrow,DonaldE. Platt,Rebecca Organization LazardFrres&Co. U.S.Treasury LehmanBrothers LehmanBrothers CommodityServices AuroraLoanServices Barclays LehmanBrothers LehmanBrothers Position1 LehmansStrategicAdvisor SecretaryoftheTreasuryfrom July2006toJanuary2009 InternationalTreasurer InHouseCounsel SeniorVicePresidentCredit Policy DirectorHeadofRepoDesk HeadofRealEstateRisk Management ValuationControlPrincipal TransactionsGroup,involved inpricetestingPTGdebt positions SeniorVicePresident OperationsTechnology ProductControllerReal EstateProductControlGroup, involvedinpricetestingPTG equitypositions GlobalProductController ChiefOperatingOfficer InvestmentBankingand InvestmentManagement Division LehmansStrategicAdvisor LegalEntityControllerfor LehmanScottishFinanceLP& PAMIStatlerArms,LLC HeadofCashTrading DebtorsCounsel ManagingDirectorGlobal andRegionalOperations HeadofCommodity AccountingGroup

Policke,Richard Rabin,Eli

LehmanBrothers LehmanBrothers

Reilly,Gerard Ricci,Rich

LehmanBrothers Barclays

Ridings,Barry Rivera,Joselito

LazardFrres&Co. LehmanBrothers

Rizzieri,Jerry Roberts,ThomasA. Rodefeld,John Rodriguez,Kleber

LehmanBrothers WeilGotshal Barclays LehmanBrothers

17

 Name Romain,Gary Rudofker,Beth Russo,ThomasA. Organization Barclays LehmanBrothers LehmanBrothers Position1 HeadofTechnicalAccounting andPrivateEquityFinance HeadofGlobalCorporate AuditGroup ChiefLegalOfficer; ViceChairmanofLBI ExecutiveVicePresident BankSupervisionGroup ChiefExecutiveOfficer VicePresidentSecuritized Products,Valuationand ControlGroup LeadAuditorLehmanAudit Team VicePresidentandHeadof CreditValuationGroup; VicePresidentFixedIncome DivisionProductControl HeadofManagement Reporting; ControllerforPrimeServices Group GlobalHeadofFixedIncome, Loans; DirectorofLehman CommercialPaper,Inc. beginninginSeptember2005 CoHeadofGlobalMergers& Acquisitions GlobalHeadofRestructuring andInvestmentBanking Group,involvedinnegotiating thetermsoftheBarclayssale

Rutledge,WilliamL. Sants,Hector Sapia,Joseph

FRBNY U.K.FinancialServices Authority LehmanBrothers

Schlich,William Sciacca,Brian

Ernst&Young LehmanBrothers

Scicutella,Leonard

LehmanBrothers

Seery,Jr.,JamesP.

LehmanBrothers

Shafir,MarkG. Shapiro,MarkJ.

LehmanBrothers LehmanBrothers

18

 Name Shek,Ada Organization LehmanBrothers Position1 LegalEntityControllerfor LehmanCommercialPaper, Inc. SeniorDirector ManagingDirectorandHead ofGlobalSecuritizedProducts SeniorVicePresidentand HeadofValuationControlfor GlobalEquities GlobalHeadofRiskControl FinancialAdvisorfor CreditorsCommittee HeadofAsiaPacificLiquid Markets AnalystFixedIncome Division,AmericasRates TradingDesk HeadofTradingandMarkets Division; HeadofSECCSEProgram ChiefExecutiveOfficer DirectorofLehman CommercialPaper,Inc.; PresidentofLehman CommercialPaper,Inc. Chairman,President,&Chief ExecutiveOfficer UndersecretaryforDomestic FinancefromOctober2006to July2008; PresidentandChiefExecutive OfficerofWachoviafromJuly 2008topresent GlobalHeadofAccounting Policy

Sheridan,Lauren Sherr,DavidN. Shi,Jerry(Zhiyong)

Alvarez&Marsal LehmanBrothers LehmanBrothers

Shotton,Paul Siegert,Eric Siegmund,Thomas Silverberg,Marc

LehmanBrothers HoulihanLokeyHoward &ZukinCapital,Inc. LehmanBrothers LehmanBrothers

Sirri,ErikR.

SEC

Skolnik,Steven Smith,GregL.

BNCMortgage,Inc. LehmanBrothers

Sokol,DavidL. Steel,RobertK.

MidAmericanEnergy U.S.Treasury

Stewart,Marie

LehmanBrothers

19

 Name Tanaka,Tracy Organization LehmanBrothers Position1 LegalEntityControllerFundo deInvestimentoMultimercado CreditoPrivadoNavigator InvestimentoNoExterior Director PresidentofCMEClearing HouseDivision HeadofFinancialInstitutions GroupfortheAmericas; ChiefOperatingOfficerfor GlobalFinancialInstitutions Group LegalEntityController LehmanBrothersCommercial Corporation HeadofEnforcement GlobalTreasurer SeniorVicePresident ExternalReporting ChiefOperatingOfficerFixed IncomeDivision; HeadofFixedIncomeStrategy LehmanBrothersExaminer; ChairmanofJenner&Block ChiefExecutiveOfficer HeadofProjectManagement OfficeforCSECompliance TransactionsAnalystfor MasterServicing VicePresidentAssetLiability ManagementGroupof Treasury

Tarsatana,Michael Taylor,KimberlyS. Taylor,NicholasJ.

Alvarez&Marsal ChicagoMercantile Exchange HSBC

Tennyson,Peter

LehmanBrothers

Thomsen,Linda Tonucci,PaoloR. Traversari,Ryan Umezaki,Kentaro

SEC LehmanBrothers LehmanBrothers LehmanBrothers

Valukas,AntonR.

Jenner&BlockLLP

Varley,John Vecchio,LauraM. Vedra,John Veksler,Irina

Barclays LehmanBrothers AuroraLoanServices LehmanBrothers

20

 Name Voigts,JanH. Organization FRBNY Position1 ExaminingOfficerBank SupervisionDepartment, monitoredLehmansliquidity positionfromMarchto September2008 HeadofGlobalRealEstate Group RiskManager SeniorVicePresident Treasury&SecuritiesServices, RiskManagement CoHeadofGlobalFinance Division CorporateSecretary LehmansStrategicAdvisor HeadofGlobalFinance Division PresidentandDirectorof LehmanBrotherCommercial Corporation; SeniorVicePresidentofLBI ChiefExecutiveOfficer ChairmanandChiefExecutive Officer HeadLegalEntityController InHouseCounsel,involvedin negotiatingJPMorgan agreements ChiefRiskOfficer

Walsh,MarkA. Weber,Mark Weisbrod,DavidA.

LehmanBrothers LehmanBrothers JPMorgan

Weiss,JeffreyL. Welikson,JeffreyA. Whiting,Matthew Wieseneck,Larry Williams,JonathanD.

LehmanBrothers LehmanBrothers LazardFrres&Co. LehmanBrothers LehmanBrothers

Wind,ThomasL. Wolf,Robert Wong,Kristie Yeung,Andrew

AuroraLoanServices UBS LehmanBrothers LehmanBrothers

Zubrow,BarryL.

JPMorgan

21

APPENDIX4:WITNESSINTERVIEWLIST
The following table lists the witnesses interviewed by the Examiner during the

courseofhisinvestigation.

WitnessName Abary,Raymond Ainslie,MichaelL.

Interview Date 03/12/09 09/22/09; 12/22/09

WitnessPosition1 CashManagement(Lehman) Director/MemberofAuditCommittee (LBHI); Director(LehmanBrothersBank)

Akers,JohnF.

04/22/09

Director/ChairofCompensationand BenefitsCommittee&MemberofFinance andRiskCommittee(LBHI) GeneralCounsel(FederalReserve) ManagingDirectorandGlobalHeadof LiquidMarkets(Lehman) FormerExecutiveVicePresident/Chief OperationsOfficer(BNCMortgage) SeniorVicePresident(FRBNY)

Alvarez,Scott Amin,Kaushik

11/12/09 04/14/09; 09/17/09 05/04/09

Anderson,Scott

Angulo,ArthurG.

08/12/09; 10/01/09 05/06/09; 06/02/09; 11/04/09 02/25/09; 03/27/09; 10/06/09

Ankalkoti,Rajesh

SeniorDirector(A&M)

Antoncic,Madelyn

FormerChiefRiskOfficer(Lehman)

Exceptwherenoted,thepositionlistedisasofSeptember15,2008,andisnotacompletelistofthe witnesspositionsortitles.
1

WitnessName Appel,NikkiG.

Interview Date 09/11/09

WitnessPosition1 ManagingDirector/AssociateGeneral Counsel(JPMorgan) GlobalHumanResourcesDirectorof FixedIncomeDivision/FormerChief AdministrativeOfficerofFixedIncome Division(Lehman) GlobalHeadofAssetsandLiabilities Management(Lehman) VicePresident/SecuritizedProducts FinanceDivision(Lehman) InformationTechnology(Lehman) StrategicAdvisorforKoreaDevelopment Bank(PerellaWeinberg) ManagingDirector(A&M) SeniorVicePresident/Principal TransactionsGroup(Lehman) GeneralCounsel/ExecutiveVice President(FRBNY) HeadofRealEstateMergersand Acquisitions/InvestmentBanking Division(Lehman) FormerInvestigatorforSpecial InvestigationsUnit/QualityControl (AuroraLoanServices)

Archer,MaryPat

08/20/09

Azerad,Robert

Babar,Usman

04/20/09; 08/17/09; 09/23/09 10/16/09

Bakshi,Kinjal Barancik,GaryS.

06/17/09 09/25/09

Barratt,James Barsanti,AnthonyJ.

03/03/09 10/15/09

Baxter,Jr.,ThomasC.

05/20/09; 08/31/09 10/23/09

Beeson,Lisa

Beltran,Alfred

04/27/09

WitnessName Berkenfeld,Steven

Interview Date 08/06/09; 10/05/09; 10/07/09

WitnessPosition1 ChairmanoftheTransactionApproval Committees/ChiefInvestmentOfficer forPrivateEquityDivision/Headof Legal,ComplianceandAuditDivision (Lehman) Director/MemberofAuditCommittee& MemberofFinanceandRiskCommittee (LBHI) Chairman(FederalReserve) ChiefFinancialOfficer/FixedIncome Division(Lehman) BusinessandRiskManager/Proprietary TradingGroupforLiquidMarkets Products(Lehman); Director(LehmanBrothersFinancial Products); Director(LehmanBrothersDerivative Products)

Berlind,Roger

05/08/09; 12/18/09

Bernanke,BenS. Bernard,Clement

12/22/09 10/23/09

Bhalloo,Murtaza

09/14/09

Bhattal,Jasjit(Jesse)

10/12/09

ChiefExecutiveOfficerofLehmanAsia (Lehman) GlobalHeadofHumanResources (Lehman) FormerSeniorVicePresident/Balance SheetGroup(Lehman) CoChiefExecutiveOfficerofInvestment Banking(JPMorgan)

Binkley,Tracy

12/22/09

Bismal,Anuraj

09/16/09

Black,StevenD.

09/23/09

WitnessName Blackwell,Alastair

Interview Date 08/07/09

WitnessPosition1 ManagingDirector/Operations,Capital Markets,InvestmentManagement Division(Lehman) Director/FinancialInstitutionsGroup (HSBC) VicePresident/PrimeDealerMonitoring Unit(FRBNY) ChairmanandChiefExecutiveOfficer (BerkshireHathaway) CreditorsCommitteesFinancialAdvisor (HoulihanLokey) AssistantVicePresident/Domestic MoneyMarketsGroup(FRBNY) FirstVicePresident/Financial OperationsRegulatoryReporting (Lehman) FormerDueDiligenceManager(Finance America/BNCMortgage) HeadofSecuritiesIndustryCoverage Group(JPMorgan) FormerChiefFinancialOfficer(Lehman) SeniorVicePresident/DeputyGeneral Counsel(OptionsClearingCorporation) VicePresident/GCCMGroup(Lehman) CollateralRiskManager/Treasury& SecuritiesServices(JPMorgan)

Bridge,Guy

09/29/09

Brodows,William

08/20/09

Buffett,WarrenE.

09/22/09

Burian,Saul

09/29/09

Burke,Christopher

07/07/09

Burke,William

10/28/09

Burruel,MarieJean

04/28/09

BuyersRusso,Jane

09/25/09

Callan,ErinA. Cawley,Jean

10/23/09 12/18/09

Chan,Jay Chiavenato,RicardoS.

12/11/09 09/21/09

WitnessName Cho,Kunho

Interview Date 01/07/10

WitnessPosition1 ViceChairman/HeadofLehmanAsia InvestmentBanking(Lehman) Manager/ForeignExchangeOperations Group(Lehman) ManagingDirector/PrimeServices Group(Lehman) SeniorVicePresident/GlobalRealEstate Group,ProductControl(Lehman) ManagingDirector/GlobalRealEstate Group/HeadofU.S.Originations (Lehman) ChiefOperatingOfficerforHuman Resources(Lehman) GlobalHeadofU.S.FixedIncome Clearing(JPMorgan) Chairman(SEC) ChairmanoftheAmericas(Barclays) Director/ChairofAuditCommittee& MemberofNominatingandCorporate GovernanceCommittee(LBHI) ViceChairman/CorporateDevelopment andGlobalCorporatePlanningand Strategy(BankofAmerica) CSEProgram(SEC) BarclaysCounsel(ClearyGottlieb)

ChuFong,Francois

12/18/09; 01/21/10 08/13/09; 11/11/09 01/11/10; 01/22/10 10/20/09; 01/21/10

Coghlan,John

Cohen,Jonathan

Cohen,Kenneth

Collerton,AnthonyJ.

05/14/09

Corral,EdwardJ.

09/29/09

Cox,Christopher Cox,Jr.,Archibald Cruikshank,Thomas

01/08/10 09/11/09 10/08/09; 01/20/10

Curl,GregoryL.

09/17/09

Danis,Michelle Davis,Robert

08/24/09 03/10/09

WitnessName delMissier,Jerry Delany,CraigM.

Interview Date 09/01/09 09/09/09

WitnessPosition1 President(BarclaysCapital) ManagingDirector/HeadofGlobal Financing(JPMorgan) HeadofRiskManagementofInvestment Banking(JPMorgan) VicePresident/ProductControl Department(Lehman) RegionalHeadforFixedIncomeRepo, MiddleOffice(Lehman) DebtorsFinancialAdvisors(Lazard Frres&Co.) FormerCreditorsCommitteesCounsel (MilbankTweed); Currently,PartnerandChairofGlobal RestructuringPractice(PaulHastings)

Dellosso,Donna

02/27/09; 10/06/09 10/22/09; 11/06/09 08/21/09

DeLuca,Philip

Denig,Nancy

Descoteaux,David

03/26/09

Despins,Luc

11/23/09

Diamond,RobertE. DiMassimo,Vincent

09/11/09 09/15/09

President(BarclaysPLC) GlobalHeadofCreditRiskManagement (Lehman) ChiefExecutiveOfficerandChairman (JPMorgan) ManagingDirector/RiskManagementin ClearingHouseDivision(Chicago MercantileExchangeGroup) ExecutiveDirectorofInvestmentBanking (JPMorgan) CSEProgram(SEC)

Dimon,JamesL.(Jamie)

09/29/09

Doar,Timothy

10/16/09

Doctoroff,MarkG.

04/29/09

Doherty,Raymond

08/24/09

WitnessName Donaldson,Jeffrey Eby,Robert

Interview Date 01/22/10 01/06/10

WitnessPosition1 ManagingDirector(A&M) HeadofLehmansGlobalForeign ExchangeOperationsGroup(Lehman) CSEProgram(SEC) President(GreenlightCapital) FormerContractAdministrator(Aurora LoanServices) HeadofCompensationControl/Global StrategiesProductsController(Lehman) SeniorVicePresident/GlobalHeadof Funding(Lehman) Director/ChairofNominatingand CorporateGovernanceCommittee, MemberofCompensationandBenefits,& MemberofFinanceandRiskCommittee (LBHI) HeadofCompensationAnalyticsfor InvestmentBankingandInvestment Management(Barclays) LeadAnalyst/Lehman(Fitch) SeniorVicePresidentCapitalMarkets, PrimeServicesGroup(Lehman)

Eichner,Matthew Einhorn,David Ellison,Phyllis

11/23/09 11/19/09 04/07/09

Emmert,James

10/09/09

Engel,StevenJ.

10/30/09

Evans,MarshaJohnson

05/22/09

Exall,Paul

08/27/09

Fahey,EileenA. Farup,Sven

09/17/09 09/24/09

WitnessName Feibus,Clifford

Interview Date 03/12/09; 10/29/09; 11/10/09; 12/17/09; 12/21/09; 12/22/09; 01/05/10 05/21/09; 07/31/09; 12/15/09 12/18/09

WitnessPosition1 FormerManagingDirector,Financial AcquisitionsDueDiligence/Former HeadLegalEntityController(Lehman)

Felder,Eric

SeniorVicePresident/CoHeadofGlobal FixedIncomeDivision/FormerGlobal HeadofGlobalCreditProducts(Lehman) FirstVicePresidentofRiskManagement andTreasuryOperations(Options ClearingCorporation) PrimeServicesGroup/SecuredFunding (Lehman) DebtorsCounsel(WeilGotshal) FormerInvestigatorfortheSpecial InvestigationsUnit/QualityControl (AuroraLoanServices) SeniorVicePresident/GlobalHeadof Cash&CollateralManagement(Lehman)

Fennell,John

Feraca,John

10/09/09

Fife,Lori Fix,Mark

02/03/09 04/15/09

Fleming,DanielJ.

Fontana,Thomas Forsyth,David

04/22/09; 08/28/09; 09/24/09; 10/21/09; 12/17/09 08/19/09 04/28/09; 10/29/09; 12/16/09 09/24/09

SeniorRiskManager(Citibank) VicePresident/TreasuryFunding& InvestmentManagement(Lehman) ManagingDirector/GlobalHeadof FinancialInstitutions(Citigroup)

Foskett,ChristopherM.

WitnessName Fox,William FranksHarber,Lana

Interview Date 05/06/09; 01/28/10 09/23/09

WitnessPosition1 ManagingDirector(A&M) ChiefAdministrativeOfficer/Mortgage CapitalDivision(Lehman) Chairman/ChiefExecutiveOfficer (LBHI)

Fuld,Jr.,RichardS.

Gargiulo,KellyL. Gavin,Mark Geithner,TimothyF. Gelband,Michael

04/28/09; 05/06/09; 09/25/09; 09/30/09; 11/19/09; 12/09/09 01/22/10 09/24/09 11/24/09 08/12/09

GlobalCorporateServices(Lehman) HeadofSecuredFinancingDesk(LBIE) President(FRBNY) FormerGlobalHeadofFixedIncome/ GlobalHeadofCapitalMarkets (Lehman) Director/MemberofAuditCommittee& MemberofCompensationandBenefits Committee(LBHI) FormerFinancialExecutive/Fixed IncomeDivision(Lehman) CSEProgram(SEC) CoHeadofCommodities(Barclays) ChiefStrategyOfficer(Lehman) SeniorAssociate(A&M) SeniorRiskManagerforFixedIncome Division(Lehman)

Gent,SirChristopher

10/21/09; 01/20/10

Gentile,Joseph

10/21/09

Giles,James Gold,Joe Goldfarb,David Goldsmith,Brad Goodman,Jeffrey

08/24/09 01/15/10 09/21/09 05/06/09; 01/28/10 08/28/09

WitnessName Gordon,WilliamB. Granfield,Lindsee Gregory,Joseph

Interview Date 01/22/10 03/10/09 11/05/09; 11/13/09 10/02/09

WitnessPosition1 SeniorDirector(A&M) BarclaysCounsel(ClearyGottlieb) FormerPresidentandChiefOperating Officer(Lehman) Controller/InvestmentManagement Division/FormerHeadofInvestor Relations/FormerGlobalFinancial Controller(Lehman) GlobalHeadofCompensationand Benefits(Lehman) Director(LBHI) SeniorManager/LehmanAuditTeam (Ernst&Young) SeniorVicePresident/ProductController (Lehman) InHouseCounsel(Lehman) Partner/LehmanAuditTeam(Ernst& Young) FormerRepurchaseUnderwriter(BNC Mortgage) LegalEntityController/Luxembourg ResidentialPropertiesLoanFinance S.A.R.L.(Lehman) VicePresident/ConsolidationsGroup (Lehman)

Grieb,Edward

Gross,Mark

08/31/09

Grundhofer,JerryA. Gruner,Jerry

09/16/09 11/11/09

Guarino,James

10/28/09

Guth,Aaron Hansen,Hillary

03/11/09 11/03/09

Harrison,Susan

04/28/09

Haupt,Gerald

10/13/09

Hauzenberg,Rose

08/04/09

10

WitnessName Heller,Stephanie

Interview Date 07/08/09

WitnessPosition1 VicePresident/PaymentsGroup (FRBNY) Director/MemberofFinanceandRisk Committee(LBHI) OutsideCounselforLehman(Goodwin Proctor) DirectorofFinancialInstitutions/ LehmanAnalyst(Standard&Poors) ChiefRiskOfficerofInvestmentBanking (JPMorgan) InHouseCounsel/CoHeadofLitigation (Lehman); Currently,CoGeneralCounsel(Lehman)

Hernandez,RolandA.

10/02/09

Hespel,PaulW.

04/23/09

Hinton,Diane

09/22/09

Hogan,JohnJ.

09/17/09

Hommel,ThomasE.

04/29/09; 01/22/10

Hraska,JamesW.

08/14/09

SeniorVicePresident/SecuredFinancing OperationsGroup(Lehman) HeadofCreditDistribution/GlobalReal EstateGroup(Lehman) AssociateGeneralCounsel(JPMorgan) FormerCoChiefExecutiveOfficer(LBIE) SeniorManager/LehmanAuditTeam (Ernst&Young) FormerHeadofMortgageCapital Division(Lehman) FormerHeadofEuropeanControl Oversight(Lehman)

Hughson,PaulA.

10/28/09; 12/21/09 04/28/09 10/01/09; 10/13/09 10/16/09; 11/03/09 09/24/09

Inaba,Gail Isaacs,JeremyM. Jackson,Jennifer

Janulis,TheodoreP.

Jones,Barry

10/01/09

11

WitnessName Jones,CraigL.

Interview Date 09/28/09; 01/11/10

WitnessPosition1 SeniorVicePresident/Treasury/Headof CashandCollateralManagementfor Americas(Lehman) BusinessManager/GlobalRatesBusiness withFixedIncomeDivision(Lehman) ExecutiveVicePresident/Chief InvestmentOfficer(MetLife) SIPATrusteesFinancialAdvisors (Deloitte&Touche) Director/ChairofFinanceandRisk Committee(LBHI) VicePresident/ValuationControlfor GlobalRealEstateGroup(Lehman) HeadofPrincipalCreditTrading (Barclays) VicePresident/Treasury(Lehman) OutsideCounselforLehman(Simpson Thacher) GlobalFinancialController(Lehman)

Joshi,Tejal

09/15/09

Kandarian,StevenA.

09/17/09

Karp,Marlo

03/24/09

Kaufman,Dr.Henry

Kebede,AbebualA.

Keegan,Michael

05/19/09; 09/02/09; 12/22/09 09/29/09; 10/06/09; 10/13/09 08/28/09

Keith,Carol Keller,AndrewR.

12/09/09 11/20/09; 01/06/10 08/18/09; 10/01/09; 12/08/09 10/26/09

Kelly,Martin

Kim,W.G.

HeadofGlobalFundingTeam(Korea DevelopmentBank) HeadoftheUnitedStatesAgencies TradingDesk(Lehman) ManagingDirector/HeadofPrincipal MortgageTradingGroup(Barclays)

King,Mitchell

09/21/09

King,Stephen

09/10/09

12

WitnessName Kirk,Alex

Interview Date 08/31/09; 01/12/10

WitnessPosition1 GlobalHeadofPrincipalBusinesses/ FormerCoChiefOperatingOfficerof FixedIncomeDivision(Lehman) FormerChairmanofInstitutionalClients Group(Citibank) SeniorDirector(A&M) VicePresident/PrincipalTransactions Group(Lehman) FormerSeniorVicePresidentinRisk Management(Lehman) ManagingDirector(A&M) ChiefExecutiveOfficer(BarclaysCapital Inc.) ManagingDirector/RealEstate InvestmentBanking(Lehman) LegalEntityController/CESAviation LLC,CESAviationVLLC,&CES AviationIXLLC(Lehman) SIPATrusteesCounsel(Hughes Hubbard) SeniorVicePresident/FinanceDivision (Lehman) Director(A&M) AssistantGeneralCounsel/Enforcement andLitigationDivision(FRBNY)

Klein,Michael

09/12/09

Kotarba,Steven Koutouvides,Aristides

12/15/09 11/20/09

Kritikos,Dimitrios

Kruse,Philip LaRocca,Gerard

04/16/09; 07/29/09; 07/30/09 06/02/09 08/19/09

Lazarus,DavidS.

11/18/09

Lederer,Amy

10/22/09

Lee,KennethE.

01/08/10

Lee,Matthew

07/01/09; 07/10/09 12/23/09; 01/08/10 04/30/09

Leto,Michael Leventhal,ShariD.

13

WitnessName Lewis,KennethD.

Interview Date 09/24/09

WitnessPosition1 President,Chairman,andChiefExecutive Officer(BankofAmerica) FormerGlobalHeadofMarketRisk ManagementforCredit,Emerging Markets,ProprietaryCredit,and MunicipalProducts(Lehman) GlobalRelationshipManager(HSBC) ChiefFinancialOfficer(Lehman) HeadofGlobalStrategy(Lehman) CSEProgram(SEC) Director/MemberofCompensationand BenefitsCommittee,Memberof ExecutiveCommittee,&Memberof NominatingandCorporateGovernance Committee(LBHI) JPMorgansCounsel(Wachtell,Lipton, Rosen&Katz) ExaminerinCharge/LehmanReview (OfficeofThriftSupervision) CoChiefExecutiveOfficer(A&M) Director(A&M) ManagingDirector/GlobalClearance andCollateralManagement(JPMorgan) FormerManagingDirector/Financial InstitutionsBrokerDealersGroup (Citibank)

Li,Joe

10/05/09

Lopez,PaulM. Lowitt,IanT. Lyons,Timothy Macchiaroli,MichaelA. Macomber,JohnD.

10/19/09 08/20/09; 10/28/09 09/30/09 08/24/09 09/25/09; 12/17/09

Mainland,Grant

11/16/09

Marcus,RonaldS.

11/04/09

Marsal,BryanP. Martinez,Lizette Mathieson,KellyA.

12/14/09 03/12/09 10/07/09

Mauerstein,Michael

09/16/09

14

WitnessName May,Diane

Interview Date 04/16/09

WitnessPosition1 FormerVicePresidentofSpecialProjects /LoanAdministration(AuroraLoan Services) SIPATrusteesFinancialAdvisors (Deloitte&Touche) PaymentandPolicyFunction(FRBNY) President/ChiefOperatingOfficer/ FormerGlobalHeadofEquities (Lehman) SeniorVicePresident/TreasuryFixed IncomeDivisionCommunications (Lehman) GlobalHeadofInvestmentBanking (Lehman) FormerHeadofSecuritizedProducts/ FormerDirector(StructuredAsset SecuritiesCorp.) ExaminerinCharge/LehmanBrothers Bank,FSBReview(OfficeofThrift Supervision) DebtorsCounsel(WeilGotshal) ManagingDirector/FixedIncome DivisionSubprimeResidential MortgageTrading(Lehman) DebtorsCounsel(WeilGotshal) CSEProgram(SEC)

McCabe,Michael

03/24/09

McCurdy,ChristopherJ. McDadeIII,HerbertH. (Bart)

08/26/09 09/02/09; 09/16/09; 01/28/10 09/11/09

McGarvey,Michael

McGeeIII,HughE.(Skip)

08/10/09; 08/12/09 08/27/09

McKinney,Richard

Michelet,John

11/05/09

Miller,HarveyR. Miller,Matthew

02/03/09; 04/23/09 09/24/09

Miller,Rod Minnick,Phillip

02/27/09 08/24/09

15

WitnessName Montal,Isaac

Interview Date 05/19/09

WitnessPosition1 ManagingDirector/DeputyGeneral Counsel(DepositoryTrust&Clearing Corporation) VicePresident/LegalEntityController Group(Lehman)

Montella,Michael

Morton,AndrewJ.

10/26/09; 10/29/09; 12/22/09; 01/05/10 09/21/09

FormerHeadofFixedIncomeEurope/ FormerGlobalHeadofFixedIncome Division(Lehman) DebtorsCounsel(WeilGotshal) FormerGlobalHeadofFixedIncome (Lehman) GlobalRealEstateGroup(Lehman) SeniorVicePresident/TeamLeader SecuritiesIndustryFinancialInstitutions Group(MoodysInvestorsServices) JPMorgansCounsel(Wachtell,Lipton, Rosen&Katz) Director(LehmanBrothersCommodity Services,Inc.) InHouseCounsel(Lehman) GlobalHeadofRiskManagement/ FormerChiefFinancialOfficer(Lehman) SeniorVicePresident/RealEstate InvestmentBanking(Lehman)

Murgio,David Nagioff,Roger

03/13/09 09/30/09

Neighbor,Webster Nerby,PeterE.

11/17/09 10/08/09

Novikoff,Harold(Hal)

OBrien,Barry

04/28/09; 04/29/09; 11/16/09 09/23/09

Olshan,William OMeara,ChristopherM.

03/03/09 08/14/09; 09/23/09; 01/21/10 10/26/09

OReilly,David

16

WitnessName Orlan,FredS.

Interview Date 09/21/09

WitnessPosition1 ManagingDirector/HighYieldTrading (Lehman); Director(LehmanCommercialPaper, Inc.)

Osterman,JeffreyD. Oustalniol,Xavier Palchynsky,JohnN.

01/28/10 03/03/09 05/11/09

DebtorsCounsel(WeilGotshal) ManagingDirector(A&M) Manager/TriPartyRepurchase Operations(Lehman) GlobalHeadofCommoditiesTrading (Lehman) Associate/RealEstateValuationDivision ofValuationandControlDepartment (Lehman) LehmanProjectTeam(Korea DevelopmentBank) DebtorsFinancialAdvisor(LazardFrres &Co.) VicePresident/OperationsTechnology Department(Lehman) UnitedStatesTreasurySecretary InternationalTreasurer(Lehman) InHouseCounsel(LehmanBrother CommodityServices,Inc.); Currently,BarclaysCounsel(Bracewell &Giuliani)

Parikh,Satu

08/26/09; 01/04/10 09/10/09

Park,Jennifer

Park,NamSu

10/26/09

Parr,Gary

09/14/09

Patruno,Sam

11/09/09; 01/11/10 06/25/09 01/13/10 07/10/09

Paulson,Jr.,HenryM. Pellerani,Carlo Perlman,DavidM.

17

WitnessName Peterson,Carl

Interview Date 05/27/09; 06/23/09 08/26/09

WitnessPosition1 FormerSeniorVicePresidentofCredit Policy(AuroraLoanServices) Director/HeadofRepoDesk(Barclays Capital) HeadofRealEstateRiskManagement (Lehman) ValuationControl/Principal TransactionsGroup(Lehman) VicePresident/FinanceTechnology (Lehman) SeniorVicePresident/Operations Technology(Lehman) RealEstateProductControlGroup (Lehman) ChiefOperatingOfficer/Investment BankingandInvestmentManagement Division(Barclays) DebtorsFinancialAdvisors(Lazard Frres&Co.) LegalEntityController/LehmanScottish FinanceLP&PAMIStatlerArms,LLC (Lehman) DebtorsCounsel(WeilGotshal) ManagingDirector/GlobalandRegional Operations(Barclays)

Petrie,David

Petrow,DonaldE.

12/17/09

Platt,Rebecca

11/02/09

Pochinapeddi,Venkatta

12/09/09

Policke,Richard

05/28/09

Rabin,Eli

10/21/09

Ricci,Rich

09/08/09

Ridings,Barry

10/01/09

Rivera,Joselito

10/13/09

Roberts,ThomasA. Rodefeld,John

02/23/09; 04/28/09 08/27/09

18

WitnessName Rodriguez,Kleber

Interview Date 11/06/09; 12/18/09 09/10/09

WitnessPosition1 FormerHeadofCommodityAccounting Group(Lehman) HeadofTechnicalAccountingand PrivateEquityFinance(Barclays) HeadofGlobalCorporateAudit (Lehman) ChiefLegalOfficer/ViceChairman (Lehman) ExecutiveVicePresidentofBank SupervisionGroup(FRBNY) VicePresident/SecuritizedProducts Valuation(Lehman) LeadAuditor/LehmanAuditTeam (Ernst&Young)

Romain,Gary

Rudofker,Beth

06/02/09; 12/15/09 05/11/09; 12/01/09 08/27/09

Russo,ThomasA.

Rutledge,WilliamL.

Sapia,Joseph

10/26/09

Schlich,William

Sciacca,Brian

09/17/09; 10/09/09; 10/16/09; 11/03/09; 11/11/09 10/19/09

VicePresident/FixedIncomeDivision ProductControl(Lehman) HeadofManagementReporting/ ControllerforPrimeServicesGroup (Lehman) GlobalChangeManagementTeam (Lehman) GlobalHeadofFixedIncome,Loans (Lehman) HeadofRestructuring(Lehman)

Scicutella,Leonard

01/15/10

Seekond,Mandeep

12/09/09

Seery,Jr.,JamesP.

Shapiro,MarkJ.

11/12/09; 01/14/10; 01/28/10 08/07/09

19

WitnessName Shek,Ada

Interview Date 11/24/09

WitnessPosition1 VicePresident/LegalEntityController Group(Lehman) SeniorDirector(A&M) FormerManagingDirectorandHeadof GlobalSecuritizedProducts(Lehman) SeniorVicePresident/HeadofValuation ControlforGlobalEquities(Lehman) SeniorRiskManager(Lehman) DebtorsFinancialAdvisors(Lazard Frres&Co.) ChairmanandChiefExecutiveOfficer (MidAmerican) GlobalHeadofAccountingPolicy (Lehman) HumanResourcesOperationsManager forCapitalMarkets(Lehman) AssistantVicePresident/Finance Technology(Lehman) LegalEntityController/Fundode InvestimentoMultimercadoCredito PrivadoNavigatorInvestimentoNo Exterior(Lehman) Director(A&M)

Sheridan,Lauren Sherr,DavidN.

01/22/10 05/06/09; 09/25/09 10/01/09

Shi,Jerry(Zhiyong)

Shotton,Paul Shribman,Daniel

06/05/09; 10/16/09 03/26/09

Sokol,DavidL.

09/22/09

Stewart,Marie

09/02/09

Sullivan,Eileen

07/24/09

Tadros,Hany

12/09/09

Tanaka,Tracy

10/21/09

Tarsatana,Michael

01/28/10

20

WitnessName Taylor,NicholasJ.

Interview Date 10/15/09

WitnessPosition1 HeadofFinancialInstitutionsGroupfor theAmericas/ChiefOperatingOfficer forGlobalFinancialInstitutionsGroup (HSBC) LegalEntityController/Lehman BrothersCommercialCorporation (Lehman) GlobalTreasurer(Lehman) SeniorVicePresident/External Reporting(Lehman) FormerChiefOperatingOfficerofFixed IncomeDivision(Lehman) HeadofProjectManagementOfficefor CSECompliance(Lehman) FormerTransactionsAnalystforMaster Servicing(AuroraLoanServices) VicePresident/AssetLiabilityand ManagementGroupofTreasury (Lehman) JPMorgansCounsel(Wachtell,Lipton, Rosen&Katz) ExaminingOfficer(FRBNY)

Tennyson,Peter

10/13/09; 12/02/09

Tonucci,PaoloR. Traversari,Ryan

09/16/09 09/24/09

Umezaki,Kentaro

06/25/09

Vecchio,LauraM.

04/16/09

Vedra,John

04/15/09

Veksler,Irina

09/11/09

Vizcarrondo,Paul

04/28/09; 04/29/09 08/25/09; 10/01/09; 11/02/09 11/20/09

Voigts,JanH.

WalkerIV,George

GlobalHeadofInvestmentManagement Division(Lehman) GlobalHeadofGlobalRealEstateGroup (Lehman)

Walsh,MarkA.

10/21/09

21

WitnessName Weber,Mark Welikson,JeffreyA. Whiting,Matthew

Interview Date 08/11/09 12/13/09 03/26/09

WitnessPosition1 RiskManager(Lehman) CorporateSecretary(Lehman) DebtorsFinancialAdvisors(Lazard Frres&Co.) PresidentandDirector(LBCC); SeniorVicePresident(LBI) ChiefExecutiveOfficer(AuroraLoan Services) JPMorgansCounsel(Wachtell,Lipton, Rosen&Katz) HeadLegalEntityController(Lehman) InHouseCounsel(Lehman) Director(A&M) ChiefRiskOfficer(JPMorgan)

Williams,JonathanD.

08/05/09; 11/18/09 04/21/09

Wind,ThomasL.

Wolf,Amy

11/16/09

Wong,Kristie Yeung,Andrew Zeiss,Mark Zubrow,BarryL.

04/15/09; 12/02/09 03/13/09; 05/14/09 12/15/09 09/16/09; 10/20/09

22

APPENDIX5:DOCUMENTCOLLECTIONANDREVIEW
The Examiner collected 5,150,000 documents from Lehman Brothers and other entities, individuals and agencies. Although time did not permit the review of every document, the Examiner reviewed and analyzed approximately 93% of those documents, constituting more than 34 million pages. This Appendix describes the processbywhichtheExaminercollectedandrevieweddocuments. I. COLLECTIONOFLEHMANELECTRONICDOCUMENTS Alvarez & Marsal (A&M) controls and manages the collection of historical Lehmanemailmessagesandotherelectronicallystoredinformation.Attheoutsetof the investigation A&M informed the Examiner that there are approximately three petabytes or the equivalent of approximately 350 billion pages of Lehman email andotherelectronicallystoreddocumentsavailable. To narrow that universe, the Examiner submitted thirtyseven formal search requests to A&M for email messages and attachments. The search requests are reproduced in Exhibit 5.1 to this Appendix. Each search request enumerated specific custodians, time periods and, in most cases, keywords or search terms to be used to identify email messages and attachments potentially relevant to the Examiners inquiry. Through these searches, the Examiner sought documents from 281 carefully selectedLehmancustodians,andotherdefinedcategoriesofdocumentsnotattributable

 to a particular custodian. A list of the custodians for whom email was requested is attachedatExhibit5.2tothisAppendix. As a result of the searches, the Examiner obtained 4,437,095 electronic Lehman documentsfromA&M.Atanaverageofsixpagesperdocument,theseamounttomore than26millionpages. A&M advised the Examiner that it used its own internal technology resources andstafftoperformtheprocessing,searchinganddeduplicationoftheLehmanemail inresponsetotheExaminersrequests.Afteridentifyingemailmessagesresponsiveto each Examiner request, A&M performed certain additional searches against the result settoidentifypotentiallyprivilegeddocuments. ThesepotentiallyprivilegeddocumentswerewithheldfromtheExamineruntil A&Ms attorneys could confirm whether the documents were in fact privileged. Documentsinitiallywithheldbutlaterfoundnottobeprivilegedweredeliveredtothe Examiner.1 Documents were also returned by the Examiner if it was determined that the documentswereprivilegedandhadbeeninadvertentlyproducedtotheExaminer.To expedite production, the Examiner had agreed to a claw back procedure for inadvertently produced privileged documents. In many instances, the Examiner
1Becausethatprocessisongoing,theremaybedocumentsreleasedafterthefinalizationofhisReport

that the Examiner did not have an opportunity to review. Those documents will be loaded into the databaseandtaggedsothatpartiescanidentifythattheywerenotreviewedbytheExaminer.

 himself voluntarily returned privileged documents he determined were inadvertently produced.AcopyoftheMay26,2009clawbackletteragreementwithWeil,Gotshal& MangesisattachedatExhibit5.3. A&MloadedallemailmessagesandattachmentsresponsivetotheExaminers search requests into the online hosting platform hosted and operated by Stratify, an Iron Mountain company. Stratify is a secure, webbased, electronic discovery and document management system. A&M maintains the administrative rights to the Stratify system; A&M granted access to the Examiner and his counsel for document review. Stratifys document management system is an online database that can be accessedbyanypersonorentitygivenaccessrights. II. COLLECTIONOFOTHERDOCUMENTS InadditiontotheelectronicLehmandocumentsthattheExaminercollectedfrom Alvarez&Marsal,theExaminercollectedmorethan701,292electronicandhardcopy documentsfromthefollowingfiftyfourentities,individuals,andgovernmentagencies: 1. 2. 3. 4. 5. 6. 7. ABNAMRO Alvarez&Marsal BankofAmerica Barclays StevenBerkenfeld Citigroup CMEGroup

 8. 9. JonathanCohen CreditSuisse

10. CurtisMalletPrevostColt&MosleLLP 11. Debtors 12. DeutscheBank 13. Duff&Phelps 14. PhyllisEllison 15. StevenEngel 16. Ernst&Young 17. Fitch,Inc. 18. GiffordFongAssociates 19. GoldmanSachs 20. GreenlightCapital,Inc. 21. SusanHarrison 22. HSBC 23. JCFlowers&Co. 24. Johnson&Associates,Inc. 25. JPMorganChase 26. KoreanDevelopmentBank 27. LazardLtd. 28. MatthewLee 29. DianeMay 30. MetLife

 31. MoodysInvestorService,Inc. 32. OfficialCommitteeofUnsecuredCreditors 33. ChrisOMeara 34. OptionsClearingCorporation 35. PerellaWeinberg 36. CarlPeterson 37. QuinnEmanuelUrquhartOliver&Hedges,LLP 38. R3CapitalPartners 39. Rothschild,Inc. 40. JimSeery 41. DavidSherr 42. Standard&Poors 43. TheDepartmentoftheTreasury 44. TheFederalReserve 45. TheFederalReserveBankofNewYork 46. TheOfficeofThriftSupervision 47. TheSecuritiesandExchangeCommission 48. TheSIPATrustee 49. TheUnitedStatesDepartmentofJustice(SDNY) 50. TheUnitedStatesSenate 51. TheUnitedStatesTreasury(SDNY) 52. TishmanSpeyer 53. Trimont

 54. Weil,Gotshal&MangesLLP. Although most of these entities produced documents voluntarily to the Examiner, it was necessary for the Examiner to serve document subpoenas on six of theseentities.ThedocumentsubpoenasservedbytheExaminerareattachedasfollows tothisAppendix: 1. 2. 3. 4. 5. 6. ThesubpoenatoABNAMROisattachedatExhibit5.4 ThesubpoenatoErnst&YoungisattachedatExhibit5.4 ThesubpoenatoKoreanDevelopmentBankisattachedatExhibit5.4 ThesubpoenatoLazardLtd.isattachedatExhibit5.4 ThesubpoenatoPerellaWeinbergisattachedatExhibit5.4 ThesubpoenatoTishmanSpeyerisattachedatExhibit5.4.

The twenty three entities and agencies listed below agreed to produce documentstotheExaminerpursuanttostipulatedprotective orders thatareavailable fromthecasedocket: 1. 2. 3. 4. 5. 6. 7. 8. ABNAMRO BankofAmerica Barclays BONYMellon Citigroup CMEGroup CreditSuisse Debtors

 9. DeutscheBank

10. Ernst&Young 11. GoldmanSachs 12. HSBC 13. JPMorgan 14. KoreaDevelopmentBank 15. LazardLtd. 16. OfficialCommitteeofUnsecuredCreditors 17. PerellaWeinberg 18. TheFederalReserve 19. TheFederalReserveBankofNewYork 20. TheOfficeofThriftSupervision 21. TheSIPATrustee 22. TheU.S.TreasurySDNYand, 23. TishmanSpeyer. Thesevenentitiesandagencieslistedbelowagreedtoproducedocumentstothe Examiner pursuant to confidentiality agreements or informal protective order agreementsthatarenotavailablefromthecasedocket: 1. 2. 3. 4. Fitch,Inc. JCFlowers&Co. MoodysInvestorService,Inc. R3CapitalPartners

 5. 6. 7. SecuritiesandExchangeCommission Standard&Poorsand, Weil,Gotshal&MangesLLP.

Documents were received from third parties in a variety of different formats, including native electronic files, paper, electronic images of scanned paper, and converted image files. These documents were managed by Jenner & Blocks inhouse paralegal and litigation support team, and loaded onto Jenner & Blocks inhouse documentmanagementsystem,CaseLogistix,forstorage,reviewandanalysis. ThecollectionofdocumentsinCaseLogistixissearchable,anddocumentscanbe identified by producing party, by production set, date range or other criteria. Both StratifyandCaseLogistixallowuserstosearchfordocuments,andnarrowthefocusof theirreview,byusingoneormoresearchcriteria,suchasreviewertags,thefulltextof thedocument,andmetadata. III. DOCUMENTREVIEWSTAFFING TheExaminersinitialdocumentreviewteamwascomprisedofassociatesfrom Jenner&Block.However,giventhenumberofdocumentscollectedfromLehmanand otherentities,individuals,andagencies,theExaminersoughtandobtainedtheCourts approval to retain more than 75 contract attorneys in order to reduce the cost of reviewing documents and to expedite the review of documents relevant to the Examinersinquiry.

 On April 7, 2009, the Examiner entered into an agreement with Strategic Legal Solutions to retain contract attorneys, subject to court approval. The Agreement betweenStrategicLegalSolutionsandJenner&Block,anditsaddendum,isattachedto thisAppendixatExhibit5.5. On or about April 15, 2009, the Examiner retained 20 contract attorneys from Strategic Legal Solutions, subject to court approval, 10 of whom were located in New Yorkand10ofwhomwerelocatedinChicago.OnApril29,2009,theExaminerfiled the Application of the Examiner For Order Authorizing the Retention of Certain Contract Attorneys to Perform Specific Document Review Tasks Nunc Pro Tunc as of April 15, 2009. On May 15, 2009, the Court approved the Examiners retention of the firstgroupofcontractattorneysthroughStrategicLegalSolutions. On or about May 11, 2009, the Examiner retained another 17 contract attorneys (10 in Chicago and 7 in New York). On May 15, 2009, the Examiner filed the Second Application of the Examiner For Order Authorizing the Retention of Certain Contract Attorneys to Perform Specific Document Review Tasks Nunc Pro Tunc as of May 11, 2009. On June 3, 2009, the Court approved the Examiners retention of this second groupofcontractattorneysthroughStrategicLegalSolutions. OnoraboutJune11,2009,theExaminerretained34additionalcontractattorneys inChicago.OnJune30,2009,theExaminerfiledtheThirdApplicationoftheExaminer ForOrderAuthorizingtheRetentionofCertainContractAttorneystoPerformSpecific

 DocumentReviewTasksNuncProTuncasofJune11,2009.OnoraboutJuly2,2009, the Examiner hired 10 additional contract attorneys in Chicago, and on July 8, 2009, supplemented its Third Application with a Notice of Filing Additional Affidavits of Disinterestedness In Connection with the Examiners Third Application to Retain Certain Contract Attorneys Nunc Pro Tunc as of June 11, 2009. On July 16, 2009, the Court approved the Examiners retention of the third and fourth groups of contract attorneysthroughStrategicLegalSolutions. Thesecontractattorneys,supplementedbyJenner&Blockattorneys,conducted thefirstlevelreviewofthedocumentscollectedbytheExaminer.Alloftheattorneys were trained to conduct this first level review by identifying documents of possible interest and coding the substantive area to which the document pertains. Jenner & Block attorneys conducted frequent quality checks of the reviews performed by the contract attorneys to confirm that the contract attorneys were properly identifying documentsrelevanttothesubstantiveareasoftheExaminersreview. Thedocuments identified as relevant in the firstlevelreview weresubjectedto further and more careful review by lawyers and financial professionals especially immersed in the subjects of the Examiners review. All document review beyond the first level review was performed by Jenner & Block attorneys or Duff & Phelps professionals.

10

 IV. DOCUMENTSREVIEWED All of the Lehman email and electronic documents loaded in the Stratify databasehavebeenreviewedbycontractattorneysandJenner&Blockassociates.The documents identified as relevant and coded to a particular relevant area were then subjecttofurtherreviewandanalysisbyJenner&Blockattorneyswithknowledgeof eachsubstantivearea. Approximately half of the documents loaded into CaseLogistix 353,182 of the 701,292 documents have been reviewed by contract attorneys and Jenner & Block associates.2 There are approximately 16 million pages of documents loaded into CaseLogistix, with an approximate average of 23 pages per document. Using that average, the Examiner reviewed approximately 8 million pages of documents in CaseLogistix. Although time did not permit review of all of the documents loaded into CaseLogistix, the Examiner is reasonably confident that most, if not all, of the truly relevant documents were reviewed. The CaseLogistix database is searchable, and the Examiner conducted many focused searches against that database to identify
2InadditiontothedocumentsloadedintoCaseLogistix,theExaminerreceivedasubstantialnumberof

additionalelectronicandhardcopydocumentsfromABNAMRO,Alvarez&Marsal,BankofAmerica, Barclays, Carl Peterson, CME Group, Credit Suisse, Deutche Bank, Duff & Phelps, Ernst & Young, GreenlightCapital,Inc.,HSBC,HughesHubbard,JimSeery,MatthewLee,PerellaWeinberg,theFederal ReserveBankofNewYork,theFederalReserve,theSIPATrusteeandWeilGotshalthatwerenotloaded intoCaseLogistixasofthefilingofthisreportbecausetheywereproducedintheweeksbeforethereport wasdue(midNovember2009throughearlyFebruary2010)orbecausetherewereunresolvedtechnical issues.

11

 documents that might be relevant to the Examiners areas of inquiry. The documents identified as relevant and coded to a particular relevant area were also subjected to further review and analysis by Jenner & Block attorneys with knowledge of each substantivearea. In total, the Examiner reviewed and analyzed approximately 4,790,277 documents constituting more than 34 million pages in order to identify documents relevanttotheExaminersreview.

12

 Exhibit5.1

Lehman Examiner E-Mail Search Requests Updated: May 12, 2009 Search 1 Custodians: Ray Abary John Feraca Dan Fleming Craig Jones Ian Lowitt Paolo Tonucci Andrew Yeung Search Terms (fund* or cash) w/10 (transfer* or mov* or sweep*) (large or big* or signific*) w/10 (collateral w/10 pledg* or mov*) (securit* or asset*) w/10 (transfer* or mov* or pledg*) (repo* or repurchase*) w/10 (transfer* or mov* or pledg*) *solven* w/20 (transfer* or mov* or pledg*) (*adequate* or *suffici* or concern* or enough or short) w/10 liquid* *valu* w/10 (*model* or mark* or book) w/20 (wrong or update or *correct* or hit or P&L or haircut) valu* w/10 (transfer* or mov* or pledg*) valu* w/10 (securit* or asset* or collateral) (transfer* or mov* or pledg*) w/10 credit* manual w/5 over* (On-top or on w/2 top or topside or top-side or top w/2 side) w/10 entr* (inter*) w/10 (transfer or pledg* or sweep*) (exec* w/5 comp*) w/20 (agree* or contract*) (*LBI* or *LBHI*) w/10 (financi* w/5 state*) (*LBI* or *LBHI*) w/25 (*SEC* or *COSO* or *COCO*) (*LBI* or *LBHI*) w/25 (*intercompany* or *intercomp* w/5 *transfer*) Time Period 8/1/08-9/22/08 2/01/08-9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 3/31/08 -9/22/08 3/31/08 -9/22/08 3/31/08 -9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 2/01/08-9/22/08 2/01/08-9/22/08 3/31/08 -9/22/08 12/1/07-9/22/08 12/1/07-9/22/08 12/1/07-9/22/08 3/31/08 -9/22/08 Date of Request 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09

Search Terms *LBCC* w/20 *transfer* JPM or JPMorgan or Chase collateral* guarant* clearing or clearance haircut or hair cut or hair-cut security w/3 agreement fail* or bankrupt* lien amend* w/5 (agreement or contract) negotiate* intra-day or intraday Bank of New York or BNY or BONY BOA or Bank of America or BofA HSBC Citi fed or federal reserve or FRB Search 2 Custodians: Martin Kelly Ian Lowitt Mark Shapiro Mark Shafir Paulo Tonucci Alternative 1: All e-mails 9/8/08 to 9/22/08

Time Period 8/1/08-9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 6/1/08-9/22/08 8/15/08-9/22/08

Date of Request 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09

Alternative 2 [If Alternative 1 would return an unacceptably high volume]: Search Terms bar* Cure employ* 2 Time Period 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 Date of Request 03/19/09 03/19/09 03/19/09

Search Terms agreement* apa* draft* repo* repurchase Ali mark* dtc dtcc fed fedwire fed wire new york fed ny fed frb Search 3 Custodians: Madelyn Antoncic Demitrios Kritikos Chris O'Meara Bert McDade Roger Nagioff Search Terms ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *bd* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *exec* 3

Time Period 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08

Date of Request 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09

Time Period

Date of Request 03/19/09

12/2006 6/16/2009 12/2006 6/16/2009 12/2006 -

Search Terms ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 CCE)) antoncic* w/20 (risk* or expos*) 4

Time Period

Date of Request 6/16/2009

12/2006 6/16/2009 12/2006 03/19/09 12/200603/19/09 12/2006 03/19/09 12/200612/2006 03/19/09

12/2006-

03/19/09

3/2008 3/2008 12/200612/2006 3/2008 3/2008 3/2008 3/2008 3/2008 12/2006-

03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09 03/19/09 03/19/09; 6/16/2009 6/16/2009 6/16/2009 6/16/2009 03/19/09

Search Terms antoncic w/20 (exec* w/5 *comm*) antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) (omeara* or *omeara* or *kirk* or *goldfarb* or *nagioff*) w/20 (*risk* or expos*) audit* w/20 *valu* (mark* or MTM or mark*to*market) w/15 (expos* or *risk*) (*risk framework*) or (risk* w/5 *framework*) ((*risk* or expos* or reliab* or accur*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/15 *model* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 violation* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 breach* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 excess* (caution or concern or increase or toxic or outsized or significant) w/10 channel w/10 (correspondent or bulk or *organic) (aur* or *BNC*) w/20 (dilig* or risk or expos*) (aur* or *BNC*) w/20 mort* ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* and *Expanded Options*) Trimont w/20 valu* *Aurora* w/10 *report* w/20 (default* or foreclosure* or epd or early payment default) *Golan* w/20 *Aurora* 5

Time Period 12/200612/200612/200612/20063/20083/200812/200612/200612/200612/200612/200612/200612/2006 12/2006 12/2006 -

Date of Request 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09

03/19/09; 6/16/2009 6/16/2009 6/16/2009 03/19/09

12/200612/200612/200612/200612/200612/200612/200612/200603/19/09; 6/16/2009 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09

Search Terms

Time Period

((*risk* or *expos*) w/20 (BNC or Aurora or warehous* 12/2006or securitiz* ) ((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* 12/2006or downgrade) goodman* w/20 (alt-A or *altA* or *subprime*) 12/2006((mortgage or mbs or *risk* or expos* or subprime) w/20 concentrat* ((delinq* or *default*) w/10 (significant*, spike*, increase*, up* or rais* or rise*)) w/20 mort* RMBS w/10 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (CDO* or collateralized debt obligation) w/5 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/5 CDS* ((*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/10 ABS* (mark* or mark*to*market or MTM* or *valu*) w/10 (real* w/5 *est*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (securitiz* or CDO) w/15 ((*legit* or true w/10 sale)) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub*) ((antoncic* or *risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*LBO* or *lever* or *buy-out* or *buyout* or bridge* or syndicat*) antoncic* w/20 (securit* or *warehous*) (mark* or mark*to*market or MTM* or *valu*) w/10 (arch* or *suncal* or arl* or austin*) bridge w/5 (equity or loan*) w/7 (expos* or *risk*) 6 12/200612/200612/200612/2006-

Date of Request 03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09 03/19/09; 6/16/2009 03/19/09 03/19/09

12/200612/20063/20083/200812/2006 3/20083/2008 -

03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09; 6/16/2009

12/2006 -

12/2006 3/200812/2006 -

03/19/09 03/19/09 03/19/09

Search Terms ((*risk* or expos*) w/5 synd*) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*power* or *plant*) (risk* or expos* or bridge* or syndicat*) w/20 *arch* (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) ((*risk* or expos*) w/10 CMBS) antoncic* w/20 *arch* (mark* or mark*to*market or MTM) w/5 (asset* or position or portfolio or CRE or real estate) (reduce* or (write* w/2 down or off)) w/5 (real or CRE or expos*) (mark* or mark*to*market or MTM) w/5 portfolio leverage* w/2 loan* w/10 (risk* or expos*) ((risk* or expos*) w/10 LBO*) leverage* w/2 buy* w/2 out (loan* or equit*) w/15 (financ* or *invest*) (antoncic* or *risk* or expos*) w/25 (*MAC* or *material adverse change* or *MAE* or *material adverse effect* or covenant light) ((*capital* or *liquid*) w/15 model) w/25 stress* (o'meara or omeara) w/25 hedg* goodman w/25 hedg* hedg* w/20 (*effective* or correlat*) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) capital w/5 adequacy (*lever* or lvg) w/10 (*liquid* or *capital*) (*capital* or *liquid*) w/15 model* 7

Time Period 12/2006 3/2008 3/2008 12/2006 3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

Date of Request 03/19/09; 6/16/2009 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09; 6/16/2009 03/19/09 03/19/09 03/19/09

12/2006 12/2006 12/2006 12/2006 12/2006 12/2007 12/2007 12/2007 -

03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09

Search Terms *liquid* w/20 (*warehous* or securit*) *liquid* w/20 (repurchas* and request* and loan*) audit* w/20 (*capital* or *liquid*) (*capital* or *liquid*) w/20 (expos* or *risk* or *suff* or *adeq*) audit* w/20 (*repo* or *finan*) under w/2 capital* Undercapitalized (capital* or liquid*) w/15 (need* or risk* or scor* or low* or dire* or troubl* or problem) *exec* w/10 *comp* (*bonus* or numbers or incentive*) /10 (pool* or award* or book*) *recap* *paulson* *KDB* or Korea* or Korea Development Bank Euoo Sung Min EM w/5 (invest* or equity* or Korea) *SpinCo* or spin-off or spinoff or (*spin* w/ 5 *co*) *blackstone* or *black* w/5 *stone* ballyrock or *bally* w/5 *rock* *blackrock* or *black* w/5 *rock* *citi* w/20 *collat* (*neuberger* or *nb* or *berman*) w/20 (*sell* or *sale* or *contract* or *agreement*) (*neuberger* or *nb* or *berman*) w/20 (*neg* or *deal*) (BOA or bank of america or B of A or *BofA) w/20 (*sell* or *sale* or *contract* or *agree*) (BOA or bank of america or B of A or BofA) w/20 (*neg* or *deal*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*sell* or *sale* or *contract* or *agree*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*neg* or *deal*) 8

Time Period 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2006 1/2007 3/2008 3/2008 4/2008 4/2008 4/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 5/2008 5/2008 5/2008 -

Date of Request 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09; 6/16/2009 03/19/09; 6/16/2009 03/19/09; 6/16/2009

5/2008 -

Search Terms Nomura w/20 (*sell* or *sale* or *contract* or *agree* or *deal* or *neg*) (*JPM* or *JP Morgan* or Chase) and (collat* w/10 *demand*) (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) (Commercial mezzanine debt) or mez debt w/10 (MTM or mark*to*market) (SSR or SS or super senior) w/10 (concern or caution or aggres*) assum* w/5 (wrong or bad or off or flaw*) (mark or mark*to*market or mtm or *valu*) (mark or mark*to*market or mtm or *valu*) w/20 (asset* or model* or method*) w/20 (write down or flaw* or aggres*) (mark or mark*to*market or mtm or *valu*) w/10 (inflat* or *over*) ((mark or mark*to*market or mtm or *valu*) w/10 *comp*) w/10 fixed* w/5 *income (mark or mark*to*market or mtm or *valu*) w/10 (real* w/5 *est*) (mark or mark*to*market or mtm or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (mark or mark*to*market or mtm or *valu*) w/10 (equit* or *liquid* or *debt*) (mark or mark*to*market or mtm or *valu*) w/10 (*power* or *plant*) (*pol* or *proced*) w/10 (*product* w/5 *control*) and (mark or mark*to * market or mtm) (ernst* or EY or E&Y or E and Y) w/15 (mark or mark*to*market or mtm or *valu*) Search 4 Custodians: 9

Time Period 5/2008 8/2008 3/2008 3/2008 12/2006 12/2006 -3/2008 12/2006 12/2006 3/2008 -3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 -

Date of Request 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09; 6/16/2009 03/19/09; 6/16/2009 03/19/09 03/19/09; 6/16/2009 03/19/09 03/19/09; 6/16/2009 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09 03/19/09; 6/16/2009

Kaushik Amin David Chan Dan Fleming Jeff Goodman Skip McGee Beth Rudofker Bill Ruiz David Sherr Paul Shotton Ken Umezaki Laura Vecchio Search Terms ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *bd* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *exec* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* 10 Time Period Date of Request 03/27/09; 6/16/2009 6/16/2009 12/20066/16/2009 12/20066/16/2009 12/20066/16/2009 12/200603/27/09 12/200603/27/09 12/200603/27/09 12/2006-

12/2006 -

Search Terms ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 CCE)) antoncic* w/20 (risk* or expos*) antoncic w/20 (exec* w/5 *comm*) antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) (omeara* or *omeara* or *kirk* or *goldfarb* or *nagioff*) w/20 (*risk* or expos*) audit* w/20 *valu* (mark* or MTM or mark*to*market) w/15 (expos* or *risk*) (*risk framework*) or (risk* w/5 *framework*) ((*risk* or expos* or reliab* or accur*) and ( caution or 11

Time Period 12/2006-

Date of Request 03/27/09

12/2006-

03/27/09

3/2008 3/2008 12/200612/2006 3/2008 3/2008 3/2008 3/2008 3/2008 12/200612/200612/200612/200612/20063/20083/200812/200612/200612/200612/200612/200612/2006-

03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09; 6/16/2009 6/16/2009 6/16/2009 6/16/2009 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09

Search Terms concern or increase or toxic or outsized or significant or chunky )) w/15 *model* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 violation* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 breach* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 excess* (caution or concern or increase or toxic or outsized or significant) w/10 channel w/10 (correspondent or bulk or *organic) (aur* or *BNC*) w/20 (dilig* or risk or expos*) (aur* or *BNC*) w/20 mort* ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* and *Expanded Options*) Trimont w/20 valu* *Aurora* w/10 *report* w/20 (default* or foreclosure* or epd or early payment default) *Golan* w/20 *Aurora* ((*risk* or *expos*) w/20 (BNC or Aurora or warehous* or securitiz* ) ((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* or downgrade) goodman* w/20 (alt-A or *altA* or *subprime*) ((mortgage or mbs or *risk* or expos* or subprime) w/20 concentrat* ((delinq* or *default*) w/10 (significant*, spike*, increase*, up* or rais* or rise*)) w/20 mort* RMBS w/10 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (CDO* or collateralized debt obligation) w/5 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) 12

Time Period

Date of Request

12/2006 12/2006 12/2006 -

03/27/09; 6/16/2009 6/16/2009 6/16/2009 03/27/09

12/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200603/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09 03/27/09; 6/16/2009 03/27/09 03/27/09

Search Terms (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/5 CDS* ((*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/10 ABS* (mark* or mark*to*market or MTM* or *valu*) w/10 (real* w/5 *est*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (securitiz* or CDO) w/15 ((*legit* or true w/10 sale)) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub*) ((antoncic* or *risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*LBO* or *lever* or *buy-out* or *buyout* or bridge* or syndicat*) antoncic* w/20 (securit* or *warehous*) (mark* or mark*to*market or MTM* or *valu*) w/10 (arch* or *suncal* or arl* or austin*) bridge w/5 (equity or loan*) w/7 (expos* or *risk*) ((*risk* or expos*) w/5 synd*) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*power* or *plant*) (risk* or expos* or bridge* or syndicat*) w/20 *arch* (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) ((*risk* or expos*) w/10 CMBS) antoncic* w/20 *arch* (mark* or mark*to*market or MTM) w/5 (asset* or position or portfolio or CRE or real estate) (reduce* or (write* w/2 down or off)) w/5 (real or CRE 13

Time Period 12/200612/20063/20083/200812/2006 3/20083/2008 -

Date of Request 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09; 6/16/2009

12/2006 -

12/2006 3/200812/2006 12/2006 3/2008 3/2008 12/2006 3/2008 12/2006 12/2006 12/2006 12/2006 -

03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09

Search Terms or expos*) (mark* or mark*to*market or MTM) w/5 portfolio leverage* w/2 loan* w/10 (risk* or expos*) ((risk* or expos*) w/10 LBO*) leverage* w/2 buy* w/2 out (loan* or equit*) w/15 (financ* or *invest*) (antoncic* or *risk* or expos*) w/25 (*MAC* or *material adverse change* or *MAE* or *material adverse effect* or covenant light) ((*capital* or *liquid*) w/15 model) w/25 stress* (o'meara or omeara) w/25 hedg* goodman w/25 hedg* hedg* w/20 (*effective* or correlat*) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) capital w/5 adequacy (*lever* or lvg) w/10 (*liquid* or *capital*) (*capital* or *liquid*) w/15 model* *liquid* w/20 (*warehous* or securit*) *liquid* w/20 (repurchas* and request* and loan*) audit* w/20 (*capital* or *liquid*) (*capital* or *liquid*) w/20 (expos* or *risk* or *suff* or *adeq*) audit* w/20 (*repo* or *finan*) under w/2 capital* Undercapitalized (capital* or liquid*) w/15 (need* or risk* or scor* or low* or dire* or troubl* or problem) *exec* w/10 *comp* (*bonus* or numbers or incentive*) /10 (pool* or award* or book*) *recap* *paulson* 14

Time Period

Date of Request 03/27/09 03/27/09; 6/16/2009 03/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

12/2006 12/2006 12/2006 12/2006 12/2006 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2006 1/2007 3/2008 3/2008 -

03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09

Search Terms *KDB* or Korea* or Korea Development Bank Euoo Sung Min EM w/5 (invest* or equity* or Korea) *SpinCo* or spin-off or spinoff or (*spin* w/ 5 *co*) *blackstone* or *black* w/5 *stone* ballyrock or *bally* w/5 *rock* *blackrock* or *black* w/5 *rock* *citi* w/20 *collat* (*neuberger* or *nb* or *berman*) w/20 (*sell* or *sale* or *contract* or *agreement*) (*neuberger* or *nb* or *berman*) w/20 (*neg* or *deal*) (BOA or bank of america or B of A or *BofA) w/20 (*sell* or *sale* or *contract* or *agree*) (BOA or bank of america or B of A or BofA) w/20 (*neg* or *deal*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*sell* or *sale* or *contract* or *agree*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*neg* or *deal*) Nomura w/20 (*sell* or *sale* or *contract* or *agree* or *deal* or *neg*) (*JPM* or *JP Morgan* or Chase) and (collat* w/10 *demand*) (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) (Commercial mezzanine debt) or mez debt w/10 (MTM or mark*to*market) (SSR or SS or super senior) w/10 (concern or caution or aggres*) assum* w/5 (wrong or bad or off or flaw*) (mark or mark*to*market or mtm or *valu*) (mark or mark*to*market or mtm or *valu*) w/20 15

Time Period 4/2008 4/2008 4/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 5/2008 5/2008 5/2008 -

Date of Request 03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09; 6/16/2009 03/27/09; 6/16/2009 03/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009 03/27/09; 6/16/2009 03/27/09 03/27/09;

5/2008 5/2008 8/2008 3/2008 3/2008 12/2006 12/2006 3/2008 12/2006 -

Search Terms (asset* or model* or method*) w/20 (write down or flaw* or aggres*) (mark or mark*to*market or mtm or *valu*) w/10 (inflat* or *over*) ((mark or mark*to*market or mtm or *valu*) w/10 *comp*) w/10 fixed* w/5 *income (mark or mark*to*market or mtm or *valu*) w/10 (real* w/5 *est*) (mark or mark*to*market or mtm or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (mark or mark*to*market or mtm or *valu*) w/10 (equit* or *liquid* or *debt*) (mark or mark*to*market or mtm or *valu*) w/10 (*power* or *plant*) (*pol* or *proced*) w/10 (*product* w/5 *control*) and (mark or mark*to * market or mtm) (ernst* or EY or E&Y or E and Y) w/15 (mark or mark*to*market or mtm or *valu*) Search 5 Custodians: Steve Berkenfeld Eric Felder Richard Fuld Michael Gelband Jeff Goodman Eric Hibbert Jeremy Isaacs Rich McKinney Matt Miller Tom Russo Paul Shotton

Time Period

Date of Request 6/16/2009 03/27/09 03/27/09; 6/16/2009 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09 03/27/09; 6/16/2009

12/2006 3/2008 3/2008 3/2008 3/20083/20083/20083/2008-

16

Search Terms (Includes revisions of the Search #3 terms plus additional terms) ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *bd* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *exec* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*))

Time Period

Date of Request 4/28/2009; 6/16/2009 6/16/2009

12/2006 -

12/20066/16/2009 12/20066/16/2009 12/20066/16/2009 12/200612/20064/28/2009

12/2006-

4/28/2009

12/2006-

4/28/2009

12/2006-

4/28/2009

12/2006-

4/28/2009

3/2008 3/2008 12/2006-

4/28/2009 4/28/2009 4/28/2009; 6/16/2009

17

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 CCE)) antoncic* w/20 (risk* or expos*) antoncic w/20 (exec* w/5 *comm*) antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) (omeara* or *omeara* or *kirk* or *goldfarb* or *nagioff*) w/20 (*risk* or expos*) audit* w/20 *valu* (mark* or MTM or mark*to*market) w/15 (expos* or *risk*) (*risk framework*) or (risk* w/5 *framework*) ((*risk* or expos* or reliab* or accur*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/15 *model* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 violation* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 breach* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 excess* (caution or concern or increase or toxic or outsized or significant) w/10 channel w/10 (correspondent or bulk or *organic) 18

Time Period

Date of Request 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 6/16/2009 6/16/2009 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009

12/2006 3/2008 3/2008 3/2008 3/2008 3/2008 12/200612/200612/200612/200612/20063/2008 3/2008 12/200612/200612/200612/200612/200612/2006-

12/2006 12/2006 12/2006 12/2006-

4/28/2009; 6/16/2009 6/16/2009 6/16/2009 4/28/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (aur* or *BNC*) w/20 (dilig* or risk or expos*) (aur* or *BNC*) w/20 mort* ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* or *Expanded Options*) Aurora w/20 (*Choice Advantage* or *Express Option*) Trimont w/20 valu* *Aurora* w/10 *report* w/20 (default* or foreclosure* or epd or early payment default) *Gollin* w/20 *Aurora* ((*risk* or *expos*) w/20 (BNC or Aurora or warehous* or securitiz* ) *Aurora* w/50 dashboard

Time Period

Date of Request 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009

12/200612/200612/200612/200612/200612/200612/200612/200612/200612/2006-

((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* 12/2006or downgrade) goodman* w/20 (alt-A or *altA* or *subprime*) 12/2006((mortgage or mbs or *risk* or expos* or subprime) w/20 concentrat* ((delinq* or *default*) w/10 (significant*, spike*, increase*, up* or rais* or rise*)) w/20 mort* RMBS w/10 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (CDO* or collateralized debt obligation) w/5 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/5 CDS* ((*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/10 ABS* (mark* or mark*to*market or MTM* or *valu*) w/10 (real* w/5 *est*) 19 12/200612/200612/200612/2006-

12/200612/20063/2008 -

4/28/2009 4/28/2009 4/28/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (securitiz* or CDO) w/15 ((*legit* or true w/10 sale)) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub*) ((antoncic* or *risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*LBO* or *lever* or *buy-out* or *buyout* or bridge* or syndicat*) antoncic* w/20 (securit* or *warehous*) (mark* or mark*to*market or MTM* or *valu*) w/10 (arch* or *suncal* or arl* or austin*) bridge w/5 (equity or loan*) w/7 (expos* or *risk*) ((*risk* or expos*) w/5 synd*) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*power* or *plant*) (risk* or expos* or bridge* or syndicat*) w/20 *arch* (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) ((*risk* or expos*) w/10 CMBS) antoncic* w/20 *arch* (mark* or mark*to*market or MTM) w/5 (asset* or position or portfolio or CRE or real estate) (reduce* or (write* w/2 down or off)) w/5 (real or CRE or expos*) (mark* or mark*to*market or MTM) w/5 portfolio leverage* w/2 loan* w/10 (risk* or expos*)

Time Period

Date of Request 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009

3/2008 12/2006 3/2008 3/2008 -

12/2006 -

12/2006 3/2008 12/2006 12/2006 3/2008 3/2008 12/2006 3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009

20

Search Terms (Includes revisions of the Search #3 terms plus additional terms) ((risk* or expos*) w/10 LBO*) leverage* w/2 buy* w/2 out (loan* or equit*) w/15 (financ* or *invest*) (antoncic* or *risk* or expos*) w/25 (*MAC* or *material adverse change* or *MAE* or *material adverse effect* or covenant light) ((*capital* or *liquid*) w/15 model) w/25 stress* (o'meara or omeara) w/25 hedg* goodman w/25 hedg* hedg* w/20 (*effective* or correlat*) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) capital w/5 adequacy (*lever* or lvg) w/10 (*liquid* or *capital*) (*capital* or *liquid*) w/15 model* *liquid* w/20 (*warehous* or securit*) *liquid* w/20 (repurchas* and request* and loan*) audit* w/20 (*capital* or *liquid*) (*capital* or *liquid*) w/20 (expos* or *risk* or *suff* or *adeq*) audit* w/20 (*repo* or *finan*) under w/2 capital* Undercapitalized (capital* or liquid*) w/15 (need* or risk* or scor* or low* or dire* or troubl* or problem) *exec* w/10 *comp* (*bonus* or numbers or incentive*) /10 (pool* or award* or book*) *recap* *paulson* *KDB* or Korea* or Korea Development Bank Euoo Sung Min EM w/5 (invest* or equity* or Korea) 21

Time Period

Date of Request 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009

12/2006 12/2006 12/2006 12/2006 -

12/2006 12/2006 12/2006 12/2006 12/2006 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2006 1/2007 3/2008 3/2008 4/2008 4/2008 4/2008 -

4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009;

Search Terms (Includes revisions of the Search #3 terms plus additional terms) *SpinCo* or spin-off or spinoff or (*spin* w/ 5 *co*) *blackstone* or *black* w/5 *stone* ballyrock or *bally* w/5 *rock* *blackrock* or *black* w/5 *rock* *citi* w/20 *collat* (*neuberger* or *nb* or *berman*) w/20 (*sell* or *sale* or *contract* or *agreement*) (*neuberger* or *nb* or *berman*) w/20 (*neg* or *deal*) (BOA or bank of america or B of A or *BofA) w/20 (*sell* or *sale* or *contract* or *agree*) (BOA or bank of america or B of A or BofA) w/20 (*neg* or *deal*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*sell* or *sale* or *contract* or *agree*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*neg* or *deal*) Nomura w/20 (*sell* or *sale* or *contract* or *agree* or *deal* or *neg*) (*JPM* or *JP Morgan* or Chase) and (collat* w/10 *demand*) (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) (Commercial mezzanine debt) or mez debt w/10 (MTM or mark*to*market) (SSR or SS or super senior) w/10 (concern or caution or aggres*) assum* w/5 (wrong or bad or off or flaw*) (mark or mark*to*market or mtm or *valu*) (mark or mark*to*market or mtm or *valu*) w/20 (asset* or model* or method*) w/20 (write down or 22

Time Period

Date of Request 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009

3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 5/2008 5/2008 5/2008 -

5/2008 5/2008 8/2008 3/2008 3/2008 12/2006 12/2006 3/2008 12/2006 -

Search Terms (Includes revisions of the Search #3 terms plus additional terms) flaw* or aggres*) (mark or mark*to*market or mtm or *valu*) w/10 (inflat* or *over*) ((mark or mark*to*market or mtm or *valu*) w/10 *comp*) w/10 fixed* w/5 *income (mark or mark*to*market or mtm or *valu*) w/10 (real* w/5 *est*) (mark or mark*to*market or mtm or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (mark or mark*to*market or mtm or *valu*) w/10 (equit* or *liquid* or *debt*) (mark or mark*to*market or mtm or *valu*) w/10 (*power* or *plant*) (*pol* or *proced*) w/10 (*product* w/5 *control*) and (mark or mark*to * market or mtm) (ernst* or EY or E&Y or E and Y) w/15 (mark or mark*to*market or mtm or *valu*) (risk w/3 appetite) w/10 (breach or violat* or exce* or overage) (risk w/3 appetite) w/10 over w/3 limit limit w/5 (breach or violat* or exce* or overage or (over w/3 limit)) (limit w/5 ( use* or usage)) w/10 (breach or violat* or exce* or overage) ((risk w/3 appetite) w/10 (increas* or rais* or higher or change or modify or revis*)) countercyclical w/5 (growth or strategy) Antoncic w/10 (fire* or replace* or move* or shift* or sack* or rid* or demot*) Antoncic w/15 (whistle* or blow*) Antoncic w/10 play* w/3 ball Antoncic w/10 play* not w/3 (commercial or weak or ridicul* or impossib*) Gelband w/10 (fire or replace or move or shift or sack 23

Time Period

Date of Request

12/2006 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 12/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/2006-

4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) or can* or transfer* or terminat*) (Suncal or Coeur or Prologis or Diversity or Gospel or Imperial or Alcoa or Ford or FMC or DT or Altria or GECC or General Electric Capital or Deutsche) w/10 (risk* or expos* or commit*) CSE w/10 ((tier 1 or one) or capital ratio and (increas* or high* or rais*)) Liquid* w/10 thirty (B or billion or bn) or 30 (B or billion or bn) *repurchase requests* w/20 (*BNC* or aur*) BNC w/3 Al* Beltran w/3 Al*

Time Period

Date of Request

12/2006-

4/28/2009; 6/16/2009

12/20069/200812/2006 12/2006 12/2006 -

4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009

Search 6 Custodians: Janet Birney Julie Boyle Emil Cornejo James Killerlane Carlo Pellerani Huw Rees Search Terms (same Terms as Search #1) (fund* or cash) w/10 (transfer* or mov* or sweep*) (large or big* or signific*) w/10 (collateral w/10 pledg* or mov*) (securit* or asset*) w/10 (transfer* or mov* or pledg*) (repo* or repurchase*) w/10 (transfer* or mov* or pledg*) *solven* w/20 (transfer* or mov* or pledg*) (*adequate* or *suffici* or concern* or enough or 24 Time Period 8/1/08-9/22/08 2/01/08-9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 3/31/08 -9/22/08 3/31/08 -9/22/08 Date of Request 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009

Search Terms (same Terms as Search #1) short) w/10 liquid* *valu* w/10 (*model* or mark* or book) w/20 (wrong or update or *correct* or hit or P&L or haircut) valu* w/10 (transfer* or mov* or pledg*) valu* w/10 (securit* or asset* or collateral) (transfer* or mov* or pledg*) w/10 credit* manual w/5 over* (On-top or on w/2 top or topside or top-side or top w/2 side) w/10 entr* (inter*) w/10 (transfer or pledg* or sweep*) (exec* w/5 comp*) w/20 (agree* or contract*) (*LBI* or *LBHI*) w/10 (financi* w/5 state*) (*LBI* or *LBHI*) w/25 (*SEC* or *COSO* or *COCO*) (*LBI* or *LBHI*) w/25 (*intercompany* or *intercomp* w/5 *transfer*) *LBCC* w/20 *transfer* JPM or JPMorgan or Chase collateral* guarant* clearing or clearance haircut or hair cut or hair-cut security w/3 agreement fail* or bankrupt* lien amend* w/5 (agreement or contract) negotiate* intra-day or intraday Bank of New York or BNY or BONY BOA or Bank of America or BofA HSBC Citi fed or federal reserve or FRB

Time Period

Date of Request 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009

3/31/08 -9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 2/01/08-9/22/08 2/01/08-9/22/08 3/31/08 -9/22/08 12/1/07-9/22/08 12/1/07-9/22/08 12/1/07-9/22/08 3/31/08 -9/22/08 8/1/08-9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 6/1/08-9/22/08 8/15/08-9/22/08

Search 7

25

Custodians: Robert Azerad Alternative 1: All e-mails 9/8/08 to 9/22/08 Alternative 2 [If Alternative 1 would return an unacceptably high volume]: Search Terms bar* Cure employ* agreement* apa* draft* repo* repurchase Ali mark* dtc dtcc fed fedwire fed wire new york fed ny fed frb Search Terms (sent as an additional Search Request #6) ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *bd* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 26 Time Period 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 9/8/08-9/22/08 Time Period 12/2006 Date of Request 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 Date of Request 5/7/2009; 6/16/2009 6/16/2009 12/2006 12/2006 6/16/2009

*exec* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 CCE)) antoncic* w/20 (risk* or expos*) antoncic w/20 (exec* w/5 *comm*) 27

6/16/2009 12/2006 6/16/2009 12/2006 12/20065/7/2009

12/2006-

5/7/2009

12/2006-

5/7/2009

12/2006-

5/7/2009

12/2006-

5/7/2009

3/2008 3/2008 12/200612/2006 3/2008 3/2008 3/2008 3/2008 3/2008 12/200612/2006-

5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 6/16/2009 6/16/2009 6/16/2009 5/7/2009 5/7/2009

antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) (omeara* or *omeara* or *kirk* or *goldfarb* or *nagioff*) w/20 (*risk* or expos*) audit* w/20 *valu* (mark* or MTM or mark*to*market) w/15 (expos* or *risk*) (*risk framework*) or (risk* w/5 *framework*) ((*risk* or expos* or reliab* or accur*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/15 *model* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 violation* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 breach* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 excess* (caution or concern or increase or toxic or outsized or significant) w/10 channel w/10 (correspondent or bulk or *organic) (aur* or *BNC*) w/20 (dilig* or risk or expos*) (aur* or *BNC*) w/20 mort* ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* or *Expanded Options*) Aurora w/20 (*Choice Advantage* or *Express Option*) Trimont w/20 valu* *Aurora* w/10 *report* w/20 (default* or foreclosure* or epd or early payment default) *Gollin* w/20 *Aurora* ((*risk* or *expos*) w/20 (BNC or Aurora or 28

12/200612/200612/20063/2008 3/2008 12/200612/200612/200612/200612/200612/2006-

5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009

12/2006 12/2006 12/2006 12/2006-

5/7/2009; 6/16/2009 6/16/2009 6/16/2009 5/7/2009

12/200612/200612/200612/200612/200612/200612/200612/200612/2006-

5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009

warehous* or securitiz* ) *Aurora* w/50 dashboard 12/20065/7/2009; 6/16/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009

((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* 12/2006or downgrade) goodman* w/20 (alt-A or *altA* or *subprime*) 12/2006((mortgage or mbs or *risk* or expos* or subprime) w/20 concentrat* ((delinq* or *default*) w/10 (significant*, spike*, increase*, up* or rais* or rise*)) w/20 mort* RMBS w/10 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (CDO* or collateralized debt obligation) w/5 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/5 CDS* ((*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/10 ABS* (mark* or mark*to*market or MTM* or *valu*) w/10 (real* w/5 *est*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (securitiz* or CDO) w/15 ((*legit* or true w/10 sale)) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub*) ((antoncic* or *risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*LBO* or *lever* or *buy-out* or *buyout* or bridge* or syndicat*) antoncic* w/20 (securit* or *warehous*) (mark* or mark*to*market or MTM* or *valu*) w/10 (arch* or *suncal* or arl* or austin*) bridge w/5 (equity or loan*) w/7 (expos* or *risk*) 29 12/200612/200612/200612/2006-

12/200612/20063/2008 3/2008 12/2006 3/2008 3/2008 -

5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009

12/2006 -

12/2006 3/2008 12/2006 -

5/7/2009 5/7/2009 5/7/2009

((*risk* or expos*) w/5 synd*) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*power* or *plant*) (risk* or expos* or bridge* or syndicat*) w/20 *arch* (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) ((*risk* or expos*) w/10 CMBS) antoncic* w/20 *arch* (mark* or mark*to*market or MTM) w/5 (asset* or position or portfolio or CRE or real estate) (reduce* or (write* w/2 down or off)) w/5 (real or CRE or expos*) (mark* or mark*to*market or MTM) w/5 portfolio leverage* w/2 loan* w/10 (risk* or expos*) ((risk* or expos*) w/10 LBO*) leverage* w/2 buy* w/2 out (loan* or equit*) w/15 (financ* or *invest*) (antoncic* or *risk* or expos*) w/25 (*MAC* or *material adverse change* or *MAE* or *material adverse effect* or covenant light) ((*capital* or *liquid*) w/15 model) w/25 stress* (o'meara or omeara) w/25 hedg* goodman w/25 hedg* hedg* w/20 (*effective* or correlat*) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) capital w/5 adequacy (*lever* or lvg) w/10 (*liquid* or *capital*) (*capital* or *liquid*) w/15 model* *liquid* w/20 (*warehous* or securit*) *liquid* w/20 (repurchas* and request* and loan*) 30

12/2006 3/2008 3/2008 12/2006 3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2007 12/2007 12/2007 12/2007 12/2007 -

5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009

audit* w/20 (*capital* or *liquid*) (*capital* or *liquid*) w/20 (expos* or *risk* or *suff* or *adeq*) audit* w/20 (*repo* or *finan*) under w/2 capital* Undercapitalized (capital* or liquid*) w/15 (need* or risk* or scor* or low* or dire* or troubl* or problem) *exec* w/10 *comp* (*bonus* or numbers or incentive*) /10 (pool* or award* or book*) *recap* *paulson* *KDB* or Korea* or Korea Development Bank Euoo Sung Min EM w/5 (invest* or equity* or Korea) *SpinCo* or spin-off or spinoff or (*spin* w/ 5 *co*) *blackstone* or *black* w/5 *stone* ballyrock or *bally* w/5 *rock* *blackrock* or *black* w/5 *rock* *citi* w/20 *collat* (*neuberger* or *nb* or *berman*) w/20 (*sell* or *sale* or *contract* or *agreement*) (*neuberger* or *nb* or *berman*) w/20 (*neg* or *deal*) (BOA or bank of america or B of A or *BofA) w/20 (*sell* or *sale* or *contract* or *agree*) (BOA or bank of america or B of A or BofA) w/20 (*neg* or *deal*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*sell* or *sale* or *contract* or *agree*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*neg* or *deal*) Nomura w/20 (*sell* or *sale* or *contract* or *agree* or *deal* or *neg*) (*JPM* or *JP Morgan* or Chase) and (collat* w/10 31

12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2006 1/2007 3/2008 3/2008 4/2008 4/2008 4/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 5/2008 5/2008 5/2008 -

5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009

5/2008 5/2008 8/2008 -

*demand*) (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) (Commercial mezzanine debt) or mez debt w/10 (MTM or mark*to*market) (SSR or SS or super senior) w/10 (concern or caution or aggres*) assum* w/5 (wrong or bad or off or flaw*) (mark or mark*to*market or mtm or *valu*) (mark or mark*to*market or mtm or *valu*) w/20 (asset* or model* or method*) w/20 (write down or flaw* or aggres*) (mark or mark*to*market or mtm or *valu*) w/10 (inflat* or *over*) ((mark or mark*to*market or mtm or *valu*) w/10 *comp*) w/10 fixed* w/5 *income (mark or mark*to*market or mtm or *valu*) w/10 (real* w/5 *est*) (mark or mark*to*market or mtm or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (mark or mark*to*market or mtm or *valu*) w/10 (equit* or *liquid* or *debt*) (mark or mark*to*market or mtm or *valu*) w/10 (*power* or *plant*) (*pol* or *proced*) w/10 (*product* w/5 *control*) and (mark or mark*to * market or mtm) (ernst* or EY or E&Y or E and Y) w/15 (mark or mark*to*market or mtm or *valu*) (risk w/3 appetite) w/10 (breach or violat* or exce* or overage) (risk w/3 appetite) w/10 over w/3 limit limit w/5 (breach or violat* or exce* or overage or (over w/3 limit)) (limit w/5 ( use* or usage)) w/10 (breach or violat* or exce* or overage) ((risk w/3 appetite) w/10 (increas* or rais* or higher or change or modify or revis*)) 32

3/2008 3/2008 12/2006 12/2006 3/2008 12/2006 -

5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 6/16/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009

12/2006 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 12/200612/200612/2006 12/200612/2006-

countercyclical w/5 (growth or strategy) Antoncic w/10 (fire* or replace* or move* or shift* or sack* or rid* or demot*) Antoncic w/15 (whistle* or blow*) Antoncic w/10 play* not w/3 (commercial or weak or ridicul* or impossib*) Antoncic w/10 play* w/3 ball Gelband w/10 (fire or replace or move or shift or sack or can* or transfer* or terminat*) (Suncal or Coeur or Prologis or Diversity or Gospel or Imperial or Alcoa or Ford or FMC or DT or Altria or GECC or General Electric Capital or Deutsche) w/10 (risk* or expos* or commit*) CSE w/10 ((tier 1 or one) or capital ratio and (increas* or high* or rais*)) Liquid* w/10 thirty (B or billion or bn) or 30 (B or billion or bn) *repurchase requests* w/20 (*BNC* or aur*) BNC w/3 Al* Beltran w/3 Al*

12/200612/200612/200612/200612/200612/200612/2006-

5/7/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009 6/16/2009 5/7/2009 5/7/2009; 6/16/2009

12/20069/200812/2006 12/200612/2006 -

5/7/2009 5/7/2009 5/7/2009 5/7/2009; 6/16/2009 5/7/2009; 6/16/2009

Search 8 Custodians: Thomas Wind Mortgage Origination and Securitization Search Terms Search Terms ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* or *Expanded Options* or *Choice Advantage*) *Aurora* w/10 *report* w/20 (default* or foreclosure* 33 Time Period 12/200612/200612/2006Date of Request 4/28/2009 4/28/2009; 6/16/2009 4/28/2009

Search Terms or epd or early payment default) ((*risk* or *expos*) w/20 (BNC or Aurora or warehous* or securitiz* ) ((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* or downgrade) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub* or Alt-B or Alt B) (antoncic* or kritikos or mckinney) w/20 (securit* or *warehous*) (*repurchase w/3 requests)* w/20 (*BNC* or aur*) w/20 (increas* or sig* or *concern*) goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) (CLTV or FICO or LTV) w/20 (underwrit* or guideline* or standard* or min* or max*) w/20 (tight* or new or adjust* or revised or change*) risk and "mortgage maker" w/20 (default or FPD or EPD) (Aurora or BNC) w/20 (shut* or close* or cease* or discontin*) BNC w/20 ("80/20" or "Select Lending" or "Score Advantage") (*Alt-A* or *Alt A*) w/20 (*Alt-B* or *Alt B*) (*Alt-A* or *Alt A* or *Alt-B* or *Alt B*) w/20 subprime (board or 10K or 10Q or 8K) w/20 (*Alt-A* or *Alt A* or *Alt-B* or *Alt B* or subprime) 34

Time Period

Date of Request 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009

12/200612/20063/2008 -

12/2006 12/2006 12/200612/200612/200612/200612/2006 12/2006 12/2006 12/2006 -

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009

Search Terms Portales Partners

Time Period 12/2006 -

Date of Request 6/16/2009

Search 9 Custodians: Erin Callan Jonathan Cohen Kenneth Cohen David Goldfarb Joe Gregory Edward Grieb Steve Hash Paul Hughson Ted Janulis Barry Jones Abe Kebede Alex Kirk Ian Lowitt Bart McDade Patrick McGarry Andrew Morton Paolo Tonucci Larry Wiesenick Search Terms (Includes revisions of the Search #3 terms plus additional terms) ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *bd* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 35 Time Period Date of Request 4/28/2009; 6/16/2009 6/16/2009 12/200612/20066/16/2009

12/2006 -

Search Terms (Includes revisions of the Search #3 terms plus additional terms) *exec* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 36

Time Period

Date of Request

6/16/2009 12/20066/16/2009 12/200612/20064/28/2009

12/2006-

4/28/2009

12/2006-

4/28/2009

12/2006-

4/28/2009

12/2006-

4/28/2009

3/2008 3/2008 12/200612/2006 3/2008 3/2008 3/2008 3/2008 3/2008 -

4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 6/16/2009 6/16/2009 6/16/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) CCE)) antoncic* w/20 (risk* or expos*) antoncic w/20 (exec* w/5 *comm*) antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) (omeara* or *omeara* or *kirk* or *goldfarb* or *nagioff*) w/20 (*risk* or expos*) audit* w/20 *valu* (mark* or MTM or mark*to*market) w/15 (expos* or *risk*) (*risk framework*) or (risk* w/5 *framework*) ((*risk* or expos* or reliab* or accur*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/15 *model* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 violation* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 breach* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 excess* (caution or concern or increase or toxic or outsized or significant) w/10 channel w/10 (correspondent or bulk or *organic) (aur* or *BNC*) w/20 (dilig* or risk or expos*) (aur* or *BNC*) w/20 mort* ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* or *Expanded Options*) Aurora w/20 (*Choice Advantage* or *Express 37

Time Period

Date of Request

12/200612/200612/200612/200612/20063/20083/200812/200612/200612/200612/200612/200612/2006-

4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009

12/2006 12/2006 12/2006 12/2006-

4/28/2009; 6/16/2009 6/16/2009 6/16/2009 4/28/2009

12/200612/200612/200612/200612/2006-

4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) Option*) Trimont w/20 valu* *Aurora* w/10 *report* w/20 (default* or foreclosure* or epd or early payment default) *Gollin* w/20 *Aurora* ((*risk* or *expos*) w/20 (BNC or Aurora or warehous* or securitiz* ) *Aurora* w/50 dashboard

Time Period

Date of Request

12/200612/200612/200612/200612/2006-

4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009

((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* 12/2006or downgrade) goodman* w/20 (alt-A or *altA* or *subprime*) 12/2006((mortgage or mbs or *risk* or expos* or subprime) w/20 concentrat* ((delinq* or *default*) w/10 (significant*, spike*, increase*, up* or rais* or rise*)) w/20 mort* RMBS w/10 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (CDO* or collateralized debt obligation) w/5 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/5 CDS* ((*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/10 ABS* (mark* or mark*to*market or MTM* or *valu*) w/10 (real* w/5 *est*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (securitiz* or CDO) w/15 ((*legit* or true w/10 sale)) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 38 12/200612/200612/200612/2006-

12/200612/20063/20083/200812/2006 3/20083/2008 -

4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (Alt-A or *AltA* or *sub*) ((antoncic* or *risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*LBO* or *lever* or *buy-out* or *buyout* or bridge* or syndicat*) antoncic* w/20 (securit* or *warehous*) (mark* or mark*to*market or MTM* or *valu*) w/10 (arch* or *suncal* or arl* or austin*) bridge w/5 (equity or loan*) w/7 (expos* or *risk*) ((*risk* or expos*) w/5 synd*) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*power* or *plant*) (risk* or expos* or bridge* or syndicat*) w/20 *arch* (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) ((*risk* or expos*) w/10 CMBS) antoncic* w/20 *arch* (mark* or mark*to*market or MTM) w/5 (asset* or position or portfolio or CRE or real estate) (reduce* or (write* w/2 down or off)) w/5 (real or CRE or expos*) (mark* or mark*to*market or MTM) w/5 portfolio leverage* w/2 loan* w/10 (risk* or expos*) ((risk* or expos*) w/10 LBO*) leverage* w/2 buy* w/2 out (loan* or equit*) w/15 (financ* or *invest*) (antoncic* or *risk* or expos*) w/25 (*MAC* or *material adverse change* or *MAE* or *material adverse effect* or covenant light) ((*capital* or *liquid*) w/15 model) w/25 stress* 39

Time Period

Date of Request

12/2006 -

4/28/2009; 6/16/2009

12/2006 3/200812/2006 12/2006 3/2008 3/2008 12/2006 3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009

12/2006 -

4/28/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (o'meara or omeara) w/25 hedg* goodman w/25 hedg* hedg* w/20 (*effective* or correlat*) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) capital w/5 adequacy (*lever* or lvg) w/10 (*liquid* or *capital*) (*capital* or *liquid*) w/15 model* *liquid* w/20 (*warehous* or securit*) *liquid* w/20 (repurchas* and request* and loan*) audit* w/20 (*capital* or *liquid*) (*capital* or *liquid*) w/20 (expos* or *risk* or *suff* or *adeq*) audit* w/20 (*repo* or *finan*) under w/2 capital* Undercapitalized (capital* or liquid*) w/15 (need* or risk* or scor* or low* or dire* or troubl* or problem) *exec* w/10 *comp* (*bonus* or numbers or incentive*) /10 (pool* or award* or book*) *recap* *paulson* *KDB* or Korea* or Korea Development Bank Euoo Sung Min EM w/5 (invest* or equity* or Korea) *SpinCo* or spin-off or spinoff or (*spin* w/ 5 *co*) *blackstone* or *black* w/5 *stone* ballyrock or *bally* w/5 *rock* *blackrock* or *black* w/5 *rock* *citi* w/20 *collat* (*neuberger* or *nb* or *berman*) w/20 (*sell* or *sale* 40

Time Period

Date of Request

12/2006 12/2006 12/2006 12/2006 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2006 1/2007 3/2008 3/2008 4/2008 4/2008 4/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 -

4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) or *contract* or *agreement*) (*neuberger* or *nb* or *berman*) w/20 (*neg* or *deal*) (BOA or bank of america or B of A or *BofA) w/20 (*sell* or *sale* or *contract* or *agree*) (BOA or bank of america or B of A or BofA) w/20 (*neg* or *deal*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*sell* or *sale* or *contract* or *agree*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*neg* or *deal*) Nomura w/20 (*sell* or *sale* or *contract* or *agree* or *deal* or *neg*) (*JPM* or *JP Morgan* or Chase) and (collat* w/10 *demand*) (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) (Commercial mezzanine debt) or mez debt w/10 (MTM or mark*to*market) (SSR or SS or super senior) w/10 (concern or caution or aggres*) assum* w/5 (wrong or bad or off or flaw*) (mark or mark*to*market or mtm or *valu*) (mark or mark*to*market or mtm or *valu*) w/20 (asset* or model* or method*) w/20 (write down or flaw* or aggres*) (mark or mark*to*market or mtm or *valu*) w/10 (inflat* or *over*) ((mark or mark*to*market or mtm or *valu*) w/10 *comp*) w/10 fixed* w/5 *income (mark or mark*to*market or mtm or *valu*) w/10 (real* w/5 *est*) (mark or mark*to*market or mtm or *valu*) w/10 41

Time Period

Date of Request

3/2008 5/2008 5/2008 5/2008 -

4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009

5/2008 5/2008 8/2008 3/2008 3/2008 12/2006 12/2006 3/2008 12/2006 -

12/2006 3/2008 3/2008 3/2008 -

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (*CDO* or *collat* or *ABS* or *CDS*) (mark or mark*to*market or mtm or *valu*) w/10 (equit* or *liquid* or *debt*) (mark or mark*to*market or mtm or *valu*) w/10 (*power* or *plant*) (*pol* or *proced*) w/10 (*product* w/5 *control*) and (mark or mark*to * market or mtm) (ernst* or EY or E&Y or E and Y) w/15 (mark or mark*to*market or mtm or *valu*) (risk w/3 appetite) w/10 (breach or violat* or exce* or overage) (risk w/3 appetite) w/10 over w/3 limit limit w/5 (breach or violat* or exce* or overage or (over w/3 limit)) (limit w/5 ( use* or usage)) w/10 (breach or violat* or exce* or overage) ((risk w/3 appetite) w/10 (increas* or rais* or higher or change or modify or revis*)) countercyclical w/5 (growth or strategy) Antoncic w/10 (fire* or replace* or move* or shift* or sack* or rid* or demot*) Antoncic w/15 (whistle* or blow*) Antoncic w/10 play* not w/3 (commercial or weak or ridicul* or impossib*) Antoncic w/10 play* w/3 ball (Suncal or Coeur or Prologis or Diversity or Gospel or Imperial or Alcoa or Ford or FMC or DT or Altria or GECC or General Electric Capital or Deutsche) w/10 (risk* or expos* or commit*) CSE w/10 ((tier 1 or one) or capital ratio and (increas* or high* or rais*)) Liquid* w/10 thirty (B or billion or bn) or 30 (B or billion or bn) *repurchase requests* w/20 (*BNC* or aur*) BNC w/3 Al* 42

Time Period

Date of Request

3/20083/20083/20083/200812/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/2006-

4/28/2009 4/28/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 4/28/2009; 6/16/2009 6/16/2009 4/28/2009; 6/16/2009

12/20069/200812/2006 12/2006 -

4/28/2009 4/28/2009 4/28/2009 4/28/2009;

Search Terms (Includes revisions of the Search #3 terms plus additional terms) Beltran w/3 Al* "balance sheet" w/20 (limit* or use* or target or incre* or breach* or rais* or exce*) goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blow-out")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" "Project Thunder" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Project Normandy" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Project V" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Project Palm" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Project Rooster" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Project Antelope" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) Lloyds w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) Endemol w/20 (breach or violat* or limit or risk or 43

Time Period

Date of Request 6/16/2009 4/28/2009; 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009

12/2006 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08

12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08

6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) exposure or commitment or valu* or board or "bod" or directors or brd or bd) Debitel w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) Houghton w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Education Media" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid))

Time Period

Date of Request

12/2006-9-15-08 12/2006-9-15-08 12/2006-9-15-08 1/2007-7/2007

6/16/2009 6/16/2009 6/16/2009 6/16/2009

5/2007 - 2/2008 1/2008 -5/2008

6/16/2009 6/16/2009

Search 10 Custodians: Ji Yeong Chu Sterling Fielding Search Terms (same Terms as Search #1) (fund* or cash) w/10 (transfer* or mov* or sweep*) (large or big* or signific*) w/10 (collateral w/10 pledg* or mov*) (securit* or asset*) w/10 (transfer* or mov* or pledg*) (repo* or repurchase*) w/10 (transfer* or mov* or pledg*) *solven* w/20 (transfer* or mov* or pledg*) 44 Time Period 8/1/08-9/22/08 2/01/08-9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 3/31/08 -9/22/08 Date of Request 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009

Search Terms (same Terms as Search #1) (*adequate* or *suffici* or concern* or enough or short) w/10 liquid* *valu* w/10 (*model* or mark* or book) w/20 (wrong or update or *correct* or hit or P&L or haircut) valu* w/10 (transfer* or mov* or pledg*) valu* w/10 (securit* or asset* or collateral) (transfer* or mov* or pledg*) w/10 credit* manual w/5 over* (On-top or on w/2 top or topside or top-side or top w/2 side) w/10 entr* (inter*) w/10 (transfer or pledg* or sweep*) (exec* w/5 comp*) w/20 (agree* or contract*) (*LBI* or *LBHI*) w/10 (financi* w/5 state*) (*LBI* or *LBHI*) w/25 (*SEC* or *COSO* or *COCO*) (*LBI* or *LBHI*) w/25 (*intercompany* or *intercomp* w/5 *transfer*) *LBCC* w/20 *transfer* JPM or JPMorgan or Chase collateral* guarant* clearing or clearance haircut or hair cut or hair-cut security w/3 agreement fail* or bankrupt* lien amend* w/5 (agreement or contract) negotiate* intra-day or intraday Bank of New York or BNY or BONY BOA or Bank of America or BofA HSBC Citi fed or federal reserve or FRB goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) 45

Time Period 3/31/08 -9/22/08 3/31/08 -9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 8/1/08-9/22/08 2/01/08-9/22/08 2/01/08-9/22/08 3/31/08 -9/22/08 12/1/07-9/22/08 12/1/07-9/22/08 12/1/07-9/22/08 3/31/08 -9/22/08 8/1/08-9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 7/1/08 - 9/22/08 6/1/08-9/22/08 8/15/08-9/22/08 12/200612/2006-

Date of Request 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 4/28/2009 6/16/2009 6/16/2009

Search Terms (same Terms as Search #1) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) Search 11 Custodians: Anthony Barsanti Lisa Beeson Clement Bernard Shaun Butler David Lazarus David O'Reilly Mark Walsh Search Terms (Includes revisions of the Search #3 terms plus additional terms) ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *bd* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *exec* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 46

Time Period 12/200612/200612/2006 12/2006 12/2006 -

Date of Request 6/16/2009 6/16/2009 6/16/2009 6/16/2009 6/16/2009

Time Period

Date of Request 5/12/2009; 6/16/2009 6/16/2009

12/2006 -

12/20066/16/2009 12/20066/16/2009 12/200612/20066/16/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 CCE)) antoncic* w/20 (risk* or expos*) antoncic w/20 (exec* w/5 *comm*) antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* 47

Time Period

Date of Request

12/2006-

5/12/2009

12/2006-

5/12/2009

12/2006-

5/12/2009

12/2006-

5/12/2009

12/2006-

5/12/2009

3/2008 3/2008 12/200612/2006 3/2008 3/2008 3/2008 3/2008 3/2008 12/200612/200612/200612/200612/2006-

5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 6/16/2009 6/16/2009 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) (omeara* or *omeara* or *kirk* or *goldfarb* or *nagioff*) w/20 (*risk* or expos*) audit* w/20 *valu* (mark* or MTM or mark*to*market) w/15 (expos* or *risk*) (*risk framework*) or (risk* w/5 *framework*) ((*risk* or expos* or reliab* or accur*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/15 *model* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 violation* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 breach* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 excess* (caution or concern or increase or toxic or outsized or significant) w/10 channel w/10 (correspondent or bulk or *organic) (aur* or *BNC*) w/20 (dilig* or risk or expos*) (aur* or *BNC*) w/20 mort* ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* or *Expanded Options*) Aurora w/20 (*Choice Advantage* or *Express Option*) Trimont w/20 valu* *Aurora* w/10 *report* w/20 (default* or foreclosure* or epd or early payment default) *Gollin* w/20 *Aurora* ((*risk* or *expos*) w/20 (BNC or Aurora or 48

Time Period

Date of Request 5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009

3/20083/200812/200612/200612/200612/200612/200612/2006-

12/2006 12/2006 12/2006 12/2006-

5/12/2009; 6/16/2009 6/16/2009 6/16/2009 5/12/2009

12/200612/200612/200612/200612/200612/200612/200612/200612/2006-

5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) warehous* or securitiz* ) *Aurora* w/50 dashboard

Time Period

Date of Request

12/2006-

((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* 12/2006or downgrade) goodman* w/20 (alt-A or *altA* or *subprime*) 12/2006((mortgage or mbs or *risk* or expos* or subprime) w/20 concentrat* ((delinq* or *default*) w/10 (significant*, spike*, increase*, up* or rais* or rise*)) w/20 mort* RMBS w/10 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (CDO* or collateralized debt obligation) w/5 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/5 CDS* ((*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/10 ABS* (mark* or mark*to*market or MTM* or *valu*) w/10 (real* w/5 *est*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (securitiz* or CDO) w/15 ((*legit* or true w/10 sale)) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub*) ((antoncic* or *risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*LBO* or *lever* or *buy-out* or *buyout* or bridge* or syndicat*) antoncic* w/20 (securit* or *warehous*) (mark* or mark*to*market or MTM* or *valu*) w/10 49 12/200612/200612/200612/2006-

5/12/2009; 6/16/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009

12/200612/20063/20083/200812/2006 3/20083/2008 -

5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009

12/2006 -

12/2006 3/2008-

5/12/2009 5/12/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (arch* or *suncal* or arl* or austin*) bridge w/5 (equity or loan*) w/7 (expos* or *risk*) ((*risk* or expos*) w/5 synd*) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*power* or *plant*) (risk* or expos* or bridge* or syndicat*) w/20 *arch* (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) ((*risk* or expos*) w/10 CMBS) antoncic* w/20 *arch* (mark* or mark*to*market or MTM) w/5 (asset* or position or portfolio or CRE or real estate) (reduce* or (write* w/2 down or off)) w/5 (real or CRE or expos*) (mark* or mark*to*market or MTM) w/5 portfolio leverage* w/2 loan* w/10 (risk* or expos*) ((risk* or expos*) w/10 LBO*) leverage* w/2 buy* w/2 out (loan* or equit*) w/15 (financ* or *invest*) (antoncic* or *risk* or expos*) w/25 (*MAC* or *material adverse change* or *MAE* or *material adverse effect* or covenant light) ((*capital* or *liquid*) w/15 model) w/25 stress* (o'meara or omeara) w/25 hedg* goodman w/25 hedg* hedg* w/20 (*effective* or correlat*) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) 50

Time Period

Date of Request

12/2006 12/2006 3/2008 3/2008 12/2006 3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009

12/2006 12/2006 12/2006 12/2006 12/2006 -

5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) capital w/5 adequacy (*lever* or lvg) w/10 (*liquid* or *capital*) (*capital* or *liquid*) w/15 model* *liquid* w/20 (*warehous* or securit*) *liquid* w/20 (repurchas* and request* and loan*) audit* w/20 (*capital* or *liquid*) (*capital* or *liquid*) w/20 (expos* or *risk* or *suff* or *adeq*) audit* w/20 (*repo* or *finan*) under*capital* under w/2 capital* Undercapitalized (capital* or liquid*) w/15 (need* or risk* or scor* or low* or dire* or troubl* or problem) *exec* w/10 *comp* (*bonus* or numbers or incentive*) /10 (pool* or award* or book*) *recap* *paulson* *KDB* or Korea* or Korea Development Bank Euoo Sung Min EM w/5 (invest* or equity* or Korea) *SpinCo* or spin-off or spinoff or (*spin* w/ 5 *co*) *blackstone* or *black* w/5 *stone* ballyrock or *bally* w/5 *rock* *blackrock* or *black* w/5 *rock* *citi* w/20 *collat* (*neuberger* or *nb* or *berman*) w/20 (*sell* or *sale* or *contract* or *agreement*) (*neuberger* or *nb* or *berman*) w/20 (*neg* or *deal*) (BOA or bank of america or B of A or *BofA) w/20 (*sell* or *sale* or *contract* or *agree*) (BOA or bank of america or B of A or BofA) 51

Time Period

Date of Request 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 6/30/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009;

12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2006 1/2007 3/2008 3/2008 4/2008 4/2008 4/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 5/2008 5/2008 -

Search Terms (Includes revisions of the Search #3 terms plus additional terms) w/20 (*neg* or *deal*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*sell* or *sale* or *contract* or *agree*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*neg* or *deal*) Nomura w/20 (*sell* or *sale* or *contract* or *agree* or *deal* or *neg*) (*JPM* or *JP Morgan* or Chase) and (collat* w/10 *demand*) (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) (Commercial mezzanine debt) or mez debt w/10 (MTM or mark*to*market) (SSR or SS or super senior) w/10 (concern or caution or aggres*) assum* w/5 (wrong or bad or off or flaw*) (mark or mark*to*market or mtm or *valu*) (mark or mark*to*market or mtm or *valu*) w/20 (asset* or model* or method*) w/20 (write down or flaw* or aggres*) (mark or mark*to*market or mtm or *valu*) w/10 (inflat* or *over*) ((mark or mark*to*market or mtm or *valu*) w/10 *comp*) w/10 fixed* w/5 *income (mark or mark*to*market or mtm or *valu*) w/10 (real* w/5 *est*) (mark or mark*to*market or mtm or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (mark or mark*to*market or mtm or *valu*) w/10 (equit* or *liquid* or *debt*) (mark or mark*to*market or mtm or *valu*) w/10 (*power* or *plant*) (*pol* or *proced*) w/10 (*product* w/5 *control*) and 52

Time Period

Date of Request 6/16/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009 5/12/2009

5/2008 -

5/2008 5/2008 8/2008 3/2008 3/2008 12/2006 12/2006 3/2008 12/2006 -

12/2006 3/2008 3/2008 3/2008 3/20083/20083/2008-

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (mark or mark*to * market or mtm) (ernst* or EY or E&Y or E and Y) w/15 (mark or mark*to*market or mtm or *valu*) (risk w/3 appetite) w/10 (breach or violat* or exce* or overage) (risk w/3 appetite) w/10 over w/3 limit limit w/5 (breach or violat* or exce* or overage or (over w/3 limit)) (limit w/5 ( use* or usage)) w/10 (breach or violat* or exce* or overage) ((risk w/3 appetite) w/10 (increas* or rais* or higher or change or modify or revis*)) countercyclical w/5 (growth or strategy) Antoncic w/10 (fire* or replace* or move* or shift* or sack* or rid* or demot*) Antoncic w/15 (whistle* or blow*) Antoncic w/10 play* not w/3 (commercial or weak or ridicul* or impossib*) Antoncic w/10 play* w/3 ball (Suncal or Coeur or Prologis or Diversity or Gospel or Imperial or Alcoa or Ford or FMC or DT or Altria or GECC or General Electric Capital or Deutsche) w/10 (risk* or expos* or commit*) CSE w/10 ((tier 1 or one) or capital ratio and (increas* or high* or rais*)) Liquid* w/10 thirty (B or billion or bn) or 30 (B or billion or bn) *repurchase requests* w/20 (*BNC* or aur*) BNC w/3 Al* Beltran w/3 Al* goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* 53

Time Period

Date of Request

3/200812/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/2006-

5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 6/16/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 6/16/2009 5/12/2009; 6/16/2009

12/20069/200812/2006 12/200612/2006 12/200612/2006-

5/12/2009 5/12/2009 5/12/2009 5/12/2009; 6/16/2009 5/12/2009; 6/16/2009 6/16/2009 6/16/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid) or can*) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) Search 12

Time Period

Date of Request

12/200612/20061/2007-7/2007

6/16/2009 6/16/2009 6/16/2009

5/2007 - 2/2008 1/2008 -5/2008

6/16/2009 6/16/2009

12/2006 12/2006 12/2006 -

6/16/2009 6/16/2009 6/16/2009

To include email sent/received by the following two email addresses: Search Terms LBECMember@exeulon.lehman.com LBECAssistants@exeulon.lehman.com Time Period 12/06 - 9/15/08 12/06 - 9/15/08 Date of Request 6/09/2009 6/09/2009

The numbers in parenthesis after custodian names is the number of the prior search, if any, for which that custodians e-mail was pulled (or requested to be pulled) from Iron Mountain. Search 13: Custodians: Ken Umezaki (4) 54

Search Terms "balance sheet" w/20 (limit* or use* or target or incre* or breach* or rais* or exceed*) ("EAF" or equity adequacy framework) w/20 (deficit or short* or underage or reduc* or low*) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("trading loss*" or counterpart* loss* or "liquidation loss*") ("EAF" or equity adequacy framework) w/20 "liquidation loss*" w/10 asset w/10 (mark or MTM or haircut*) ("EAF" or equity adequacy framework) w/10 alloca* w/10 mortgage* or "real estate" or "commercial" or "HG" or "HY" ("EAF" or equity adequacy framework) w/20 "FID" or "fixed income" w/10 "charge" "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" "Contingent Acquisitions" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Thunder" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Normandy" w/20 (breach or violat* or limit or 55

Time Period 12/2006-12/31/08 12/200612/200612/200612/2006-

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

Search Terms risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project V" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Palm" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Rooster" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Antelope" w/20 (breach or viol at* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) Goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) BNC w/20 ("80/20" or "Select Lending" or "Score Advantage") (CLTV or FICO or LTV) w/20 (underwrit* or guideline* or standard* or minimum or maximum) w/20 (tight* or new or adjust* or revised or change*) (Aurora or ALS or BNC) w/20 ("negative amortization" or "negatively amortized" or "Hybrid ARM" or "hybrid adjustable rate mortgage") (Aurora or BNC) w/20 (shutdown or cease* or discontin*) ("new products committee" or new product committee) w/20 (mortgage or Aurora or BNC) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or 56

Time Period

Date of Request

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/200612/200612/200612/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/200612/20061/2007-7/2007

6/18/2009 6/18/2009 6/18/2009

5/2007 - 2/2008

6/18/2009

Search Terms "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or sack* or (get w/5 rid)) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) (Arch* or ASN or ASOT) w/10 (break* w/5 fee) Project Easy Living or EZ Living (Arch* or ASN or ASOT) w/10 (complete* or close* or consum*) (Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW) w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or bod or directors or brd or bd or mark* or MTM) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" (rais* or increase* or grow* or us*) w/5 (risk appetite or RA) (risk appetite or RA or VaR) w/7 (breach* or over* 57

Time Period

Date of Request

1/2008 -5/2008

6/18/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

3/2006-9/2007 3/2006-9/2007

6/18/2009 6/18/2009

Search Terms or compare*) w/5 limit* Limit w/5 (grow* or rais* or increase*) (off-site or offsite) w/5 (RA or risk appetite) Strateg* w/7 (grow* or increase* or rais*) (BOD or *bd* or Board or Directors or BRD) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) (Audit or Finance or Nominating or Compensation) w/5 committee w/10 (presen* or report* or material* or disclose* or update* or inform* or fil*) Archstone w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "EZ Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASN" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Arch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASOT" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Diversity Funding" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or 58

Time Period

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009

3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 12/2006-

12/2006-

6/18/2009

10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms brd or bd or mark* or MTM) "Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Northern Rock" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Prologis" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Dermody" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ProLogic" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Coeur Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Dame" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "La Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Carlyle" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Windermere XIV" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Win 14" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "SunCal" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) 59

Time Period

Date of Request 6/18/2009

10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms "Ritter Ranch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Delta Shores" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Galaxy" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "College Park" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Inland Empire" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or (get w/5 rid)) (CRO or "chief risk officer" or antoncic or Madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid)) divers* w/2 benefit (Pine or Spruce or Kingfisher or Verano or Ruby or Clio or Leoforos or 7th Avenue or Thalia or Sasco or Cayman Partners or Delta Topco or HD Supply or Fenway) w/20 (collateral or *liquid* or JPM or *morgan) (10-K or 10K or 10-Q or 10Q) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) Search 14: 60

Time Period 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 1/2007-7/2007

Date of Request 6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

Custodians: Gelband (5) Search Terms "balance sheet" w/20 (limit* or use* or target or incre* or breach* or rais* or exceed*) ("EAF" or equity adequacy framework) w/20 (deficit or short* or underage or reduc* or low*) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("trading loss*" or counterpart* loss* or "liquidation loss*") ("EAF" or equity adequacy framework) w/20 "liquidation loss*" w/10 asset w/10 (mark or MTM or haircut*) ("EAF" or equity adequacy framework) w/10 alloca* w/10 mortgage* or "real estate" or "commercial" or "HG" or "HY" ("EAF" or equity adequacy framework) w/20 "FID" or "fixed income" w/10 "charge" "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" "Contingent Acquisitions" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) 61 Time Period 12/2006-12/31/08 12/200612/200612/200612/2006Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

Search Terms "Project Thunder" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Normandy" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project V" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Palm" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Rooster" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Antelope" w/20 (breach or viol at* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) Goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) BNC w/20 ("80/20" or "Select Lending" or "Score Advantage") (CLTV or FICO or LTV) w/20 (underwrit* or guideline* or standard* or minimum or maximum) w/20 (tight* or new or adjust* or revised or change*) (Aurora or ALS or BNC) w/20 ("negative amortization" or "negatively amortized" or "Hybrid ARM" or "hybrid adjustable rate mortgage") (Aurora or BNC) w/20 (shutdown or cease* or discontin*) ("new products committee" or new product committee) w/20 (mortgage or Aurora or BNC) ((Michael or Mike or Gelband) or (head w/2 FID)) 62

Time Period 12/2006-

Date of Request 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/200612/200612/200612/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/200612/20061/2007-7/2007

6/18/2009 6/18/2009 6/18/2009

Search Terms w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or sack* or (get w/5 rid)) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) (Arch* or ASN or ASOT) w/10 (break* w/5 fee) Project Easy Living or EZ Living (Arch* or ASN or ASOT) w/10 (complete* or close* or consum*) (Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW) w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or bod or directors or brd or bd or mark* or MTM) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or 63

Time Period

Date of Request

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

Search Terms "Liquidity Crunch" (rais* or increase* or grow* or us*) w/5 (risk appetite or RA) (risk appetite or RA or VaR) w/7 (breach* or over* or compare*) w/5 limit* Limit w/5 (grow* or rais* or increase*) (off-site or offsite) w/5 (RA or risk appetite) Strateg* w/7 (grow* or increase* or rais*) (BOD or *bd* or Board or Directors or BRD) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) (Audit or Finance or Nominating or Compensation) w/5 committee w/10 (presen* or report* or material* or disclose* or update* or inform* or fil*) Archstone w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "EZ Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASN" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Arch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASOT" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Diversity Funding" w/20 (limit or risk or exposure or 64

Time Period

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 12/2006-

12/2006-

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

Search Terms commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM or mark* or MTM) "Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Northern Rock" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Prologis" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Dermody" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ProLogic" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Coeur Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Dame" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "La Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Carlyle" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Windermere XIV" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Win 14" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or 65

Time Period

Date of Request

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

Search Terms brd or bd or mark* or MTM) "SunCal" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Ritter Ranch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Delta Shores" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Galaxy" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "College Park" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Inland Empire" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or (get w/5 rid)) (CRO or "chief risk officer" or antoncic or Madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid)) divers* w/2 benefit (Pine or Spruce or Kingfisher or Verano or Ruby or Clio or Leoforos or 7th Avenue or Thalia or Sasco or Cayman Partners or Delta Topco or HD Supply or Fenway) w/20 (collateral or *liquid* or JPM or *morgan) (10-K or 10K or 10-Q or 10Q) w/20 (altA or Alt-A 66

Time Period

Date of Request 6/18/2009

12/2006-9/30/08

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

12/2006-9/30/08

6/18/2009

1/2007-7/2007

6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

Search Terms or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) Search 15: Custodians: Goodman (4) Search Terms "balance sheet" w/20 (limit* or use* or target or incre* or breach* or rais* or exceed*) ("EAF" or equity adequacy framework) w/20 (deficit or short* or underage or reduc* or low*) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("trading loss*" or counterpart* loss* or "liquidation loss*") ("EAF" or equity adequacy framework) w/20 "liquidation loss*" w/10 asset w/10 (mark or MTM or haircut*) ("EAF" or equity adequacy framework) w/10 alloca* w/10 mortgage* or "real estate" or "commercial" or "HG" or "HY" ("EAF" or equity adequacy framework) w/20 "FID" or "fixed income" w/10 "charge" "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or 67

Time Period

Date of Request

Time Period 12/2006-12/31/08 12/200612/200612/200612/2006-

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

Search Terms "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" "Contingent Acquisitions" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Thunder" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Normandy" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project V" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Palm" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Rooster" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Antelope" w/20 (breach or viol at* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) (Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW) w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or bod or directors or brd or bd or mark* or MTM) goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) 68

Time Period

Date of Request

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

Search Terms hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) BNC w/20 ("80/20" or "Select Lending" or "Score Advantage") (CLTV or FICO or LTV) w/20 (underwrit* or guideline* or standard* or minimum or maximum) w/20 (tight* or new or adjust* or revised or change*) (Aurora or ALS or BNC) w/20 ("negative amortization" or "negatively amortized" or "Hybrid ARM" or "hybrid adjustable rate mortgage") (Aurora or BNC) w/20 (shutdown or cease* or discontin*) ("new products committee" or new product committee) w/20 (mortgage or Aurora or BNC) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or sack* or (get w/5 rid)) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) (Arch* or ASN or ASOT) w/10 (break* w/5 fee) Project Easy Living or EZ Living (Arch* or ASN or ASOT) w/10 (complete* or close* or consum*) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" 69

Time Period 12/200612/200612/200612/2006-

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/200612/20061/2007-7/2007

6/18/2009 6/18/2009 6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

Search Terms or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" (rais* or increase* or grow* or us*) w/5 (risk appetite or RA) (risk appetite or RA or VaR) w/7 (breach* or over* or compare*) w/5 limit* Limit w/5 (grow* or rais* or increase*) (off-site or offsite) w/5 (RA or risk appetite) Strateg* w/7 (grow* or increase* or rais*) (BOD or *bd* or Board or Directors or BRD) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) (Audit or Finance or Nominating or Compensation) w/5 committee w/10 (presen* or report* or material* or disclose* or update* or inform* or fil*) Archstone w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "EZ Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASN" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Arch" w/20 (limit or risk or exposure or commitment 70

Time Period

Date of Request

3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 12/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/2006-

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms or valu* or board or "bod" or directors or brd or bd) "ASOT" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Diversity Funding" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Northern Rock" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Prologis" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Dermody" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ProLogic" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Coeur Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Dame" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "La Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Carlyle" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or 71

Time Period 9/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

Date of Request

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms brd or bd or mark* or MTM) "Windermere XIV" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Win 14" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "SunCal" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Ritter Ranch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Delta Shores" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Galaxy" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "College Park" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Inland Empire" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or (get w/5 rid)) (CRO or "chief risk officer" or antoncic or Madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid)) divers* w/2 benefit 72

Time Period

Date of Request 6/18/2009

10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 1/2007-7/2007

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/2006-

6/18/2009

Search Terms

Time Period

(Pine or Spruce or Kingfisher or Verano or Ruby or 12/2006Clio or Leoforos or 7th Avenue or Thalia or Sasco or Cayman Partners or Delta Topco or HD Supply or Fenway) w/20 (collateral or *liquid* or JPM or *morgan) (10-K or 10K or 10-Q or 10Q) w/20 (altA or Alt-A 12/2006or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) NYSE w/10 (exam* or audit* or review*) 1/1/200612/31/07 Search 16: Custodians: OMeara (3) Search Terms "balance sheet" w/20 (limit* or use* or target or incre* or breach* or rais* or exceed*) ("EAF" or equity adequacy framework) w/20 (deficit or short* or underage or reduc* or low*) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("trading loss*" or counterpart* loss* or "liquidation loss*") ("EAF" or equity adequacy framework) w/20 "liquidation loss*" w/10 asset w/10 (mark or MTM or haircut*) ("EAF" or equity adequacy framework) w/10 alloca* w/10 mortgage* or "real estate" or "commercial" or "HG" or "HY" ("EAF" or equity adequacy framework) w/20 "FID" 73 Time Period 12/2006-12/31/08 12/200612/200612/200612/2006-

Date of Request 6/18/2009

6/18/2009

6/18/2009

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

Search Terms or "fixed income" w/10 "charge" "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" "Contingent Acquisitions" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Thunder" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Normandy" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project V" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Palm" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Rooster" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Antelope" w/20 (breach or viol at* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) Lloyds w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) (Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or 74

Time Period

Date of Request 6/18/2009

12/2006-

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

Search Terms EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW) w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or bod or directors or brd or bd or mark* or MTM) Goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) BNC w/20 ("80/20" or "Select Lending" or "Score Advantage") (CLTV or FICO or LTV) w/20 (underwrit* or guideline* or standard* or minimum or maximum) w/20 (tight* or new or adjust* or revised or change*) (Aurora or ALS or BNC) w/20 ("negative amortization" or "negatively amortized" or "Hybrid ARM" or "hybrid adjustable rate mortgage") (Aurora or BNC) w/20 (shutdown or cease* or discontin*) ("new products committee" or new product committee) w/20 (mortgage or Aurora or BNC) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or sack* or (get w/5 rid)) Disclos* w/10 (altA or Alt-A or AltB or Alt-B 75

Time Period

Date of Request

12/200612/2006-

6/18/2009 6/18/2009

12/200612/200612/200612/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/200612/20061/2007-7/2007

6/18/2009 6/18/2009 6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/2006 -

6/18/2009

Search Terms or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) (Arch* or ASN or ASOT) w/10 (break* w/5 fee) Project Easy Living or EZ Living (Arch* or ASN or ASOT) w/10 (complete* or close* or consum*) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" (rais* or increase* or grow* or us*) w/5 (risk appetite or RA) (risk appetite or RA or VaR) w/7 (breach* or over* or compare*) w/5 limit* Limit w/5 (grow* or rais* or increase*) (off-site or offsite) w/5 (RA or risk appetite) Strateg* w/7 (grow* or increase* or rais*) (BOD or *bd* or Board or Directors or BRD) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) (Audit or Finance or Nominating or Compensation) w/5 committee w/10 (presen* or report* or material* or disclose* or update* or inform* or fil*) Archstone w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors 76

Time Period

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006-

3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 12/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

10/1/20069/30/08 10/1/20069/30/08

6/18/2009

6/18/2009

Search Terms or brd or bd or mark* or MTM) "Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "EZ Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASN" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Arch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASOT" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Diversity Funding" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Northern Rock" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Prologis" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Dermody" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ProLogic" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) 77

Time Period

Date of Request 6/18/2009

10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms "Coeur Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Dame" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "La Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Carlyle" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Windermere XIV" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Win 14" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "SunCal" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Ritter Ranch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Delta Shores" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Galaxy" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "College Park" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Inland Empire" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) ((Michael or Mike or Gelband) or (head w/2 FID)) 78

Time Period 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 1/2007-7/2007

Date of Request 6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or (get w/5 rid)) (CRO or "chief risk officer" or antoncic or Madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid)) divers* w/2 benefit (Pine or Spruce or Kingfisher or Verano or Ruby or Clio or Leoforos or 7th Avenue or Thalia or Sasco or Cayman Partners or Delta Topco or HD Supply or Fenway) w/20 (collateral or *liquid* or JPM or *morgan) (10-K or 10K or 10-Q or 10Q) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) NYSE w/10 (exam* or audit* or review*) e and y e&y ernst* @ey.com @uk.ey.com Search 17: Custodians:

Time Period

Date of Request

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

1/1/200612/31/07 12/200612/200612/200612/200612/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

[Note that the e-mail for all custodians in Search 16 was already pulled for these date ranges in prior searches.] Kaushik Amin (4) Madelyn Antoncic (3) Robert Azerad (7) 79

Steve Berkenfeld (5) Eric Felder (5) Richard Fuld (5) Eric Hibbert (5) Jeremy Isaacs (5) Demitrios Kritikos (3) Ian Lowitt (1) Bert McDade (3) Hugh McGee (4) Rich McKinney (5) Matt Miller (5) Roger Nagioff (3) Tom Russo (5) Mark Shafir (2) David Sherr (4) Paul Shotton (4)

Search Terms "balance sheet" w/20 (limit* or use* or target or incre* or breach* or rais* or exceed*) ("EAF" or equity adequacy framework) w/20 (deficit or short* or underage or reduc* or low*) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("trading loss*" or counterpart* loss* or "liquidation loss*") ("EAF" or equity adequacy framework) w/20 "liquidation loss*" w/10 asset w/10 (mark or MTM or haircut*) ("EAF" or equity adequacy framework) w/10 alloca* w/10 mortgage* or "real estate" or "commercial" or "HG" or "HY" ("EAF" or equity adequacy framework) w/20 "FID" or "fixed income" w/10 "charge" 80

Time Period 12/2006-12/31/08 12/200612/200612/200612/2006-

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

Search Terms "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" "Contingent Acquisitions" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Thunder" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Normandy" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project V" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Palm" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Rooster" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Antelope" w/20 (breach or viol at* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) (Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW) w/20 (breach or violat* or limit or 81

Time Period 12/2006-

Date of Request 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

Search Terms risk or exposure or commitment or valu* or board or bod or directors or brd or bd or mark* or MTM) goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) BNC w/20 ("80/20" or "Select Lending" or "Score Advantage") (CLTV or FICO or LTV) w/20 (underwrit* or guideline* or standard* or minimum or maximum) w/20 (tight* or new or adjust* or revised or change*) (Aurora or ALS or BNC) w/20 ("negative amortization" or "negatively amortized" or "Hybrid ARM" or "hybrid adjustable rate mortgage") (Aurora or BNC) w/20 (shutdown or cease* or discontin*) ("new products committee" or new product committee) w/20 (mortgage or Aurora or BNC) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or sack* or (get w/5 rid)) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and 82

Time Period

Date of Request

12/200612/2006-

6/18/2009 6/18/2009

12/200612/200612/200612/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/200612/20061/2007-7/2007

6/18/2009 6/18/2009 6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/2006 12/2006 12/2006 -

6/18/2009 6/18/2009 6/18/2009

Search Terms (subprime or sub*) (Arch* or ASN or ASOT) w/10 (break* w/5 fee) Project Easy Living or EZ Living (Arch* or ASN or ASOT) w/10 (complete* or close* or consum*) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" (rais* or increase* or grow* or us*) w/5 (risk appetite or RA) (risk appetite or RA or VaR) w/7 (breach* or over* or compare*) w/5 limit* Limit w/5 (grow* or rais* or increase*) (off-site or offsite) w/5 (RA or risk appetite) Strateg* w/7 (grow* or increase* or rais*) (BOD or *bd* or Board or Directors or BRD) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) (Audit or Finance or Nominating or Compensation) w/5 committee w/10 (presen* or report* or material* or disclose* or update* or inform* or fil*) Archstone w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) 83

Time Period

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006 12/2006 12/2006 12/2006-

3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 12/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

6/18/2009

6/18/2009

6/18/2009

Search Terms "EZ Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASN" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Arch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASOT" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Diversity Funding" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Northern Rock" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Prologis" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Dermody" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ProLogic" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Coeur Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Dame" w/20 (limit or risk or exposure or 84

Time Period 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/2006-

Date of Request 6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "La Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Carlyle" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Windermere XIV" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Win 14" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "SunCal" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Ritter Ranch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Delta Shores" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Galaxy" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "College Park" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Inland Empire" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or (get w/5 rid)) (CRO or "chief risk officer" or antoncic or Madelyn or 85

Time Period 9/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 1/2007-7/2007

Date of Request

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

5/2007 - 2/2008

6/18/2009

Search Terms "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid)) divers* w/2 benefit (Pine or Spruce or Kingfisher or Verano or Ruby or Clio or Leoforos or 7th Avenue or Thalia or Sasco or Cayman Partners or Delta Topco or HD Supply or Fenway) w/20 (collateral or *liquid* or JPM or *morgan) (10-K or 10K or 10-Q or 10Q) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool)

Time Period

Date of Request

1/2008 -5/2008

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

Search 18: [Note: These search terms are identical to search 16. However, the e-mail from these custodians has not yet been pulled. A&M is currently pulling for searches 8-11. Thus, once searches 8-11 are completed, these can be run without going back to Iron Mountain. This search was separated from search 16 to allow search 16 to proceed immediately.] Custodians: Clement Bernard (11) Erin Callan (9) Ken Cohen (9) David Goldfarb (9) Joe Gregory (9) Steve Hash (9) Paul Hughson (9) Alex Kirk (9) Andrew Morton (9) Mark Walsh (11) Larry Wieseneck (9)

86

Search Terms "balance sheet" w/20 (limit* or use* or target or incre* or breach* or rais* or exceed*) ("EAF" or equity adequacy framework) w/20 (deficit or short* or underage or reduc* or low*) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("trading loss*" or counterpart* loss* or "liquidation loss*") ("EAF" or equity adequacy framework) w/20 "liquidation loss*" w/10 asset w/10 (mark or MTM or haircut*) ("EAF" or equity adequacy framework) w/10 alloca* w/10 mortgage* or "real estate" or "commercial" or "HG" or "HY" ("EAF" or equity adequacy framework) w/20 "FID" or "fixed income" w/10 "charge" "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" "Contingent Acquisitions" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Thunder" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Normandy" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or 87

Time Period 12/2006-12/31/08 12/200612/200612/200612/2006-

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

Search Terms "bod" or directors or brd or bd or mark* or MTM) "Project V" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Palm" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Rooster" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Antelope" w/20 (breach or viol at* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) (Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW) w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or bod or directors or brd or bd or mark* or MTM) goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) BNC w/20 ("80/20" or "Select Lending" or "Score Advantage") (CLTV or FICO or LTV) w/20 (underwrit* or guideline* or standard* or minimum or maximum) w/20 (tight* or new or adjust* or revised or change*) (Aurora or ALS or BNC) w/20 ("negative amortization" or "negatively amortized" or "Hybrid ARM" or "hybrid adjustable rate mortgage") (Aurora or BNC) w/20 (shutdown or cease* or 88

Time Period

Date of Request 6/18/2009

12/2006-

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/200612/200612/200612/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

Search Terms discontin*) ("new products committee" or new product committee) w/20 (mortgage or Aurora or BNC) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or sack* or (get w/5 rid)) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) (Arch* or ASN or ASOT) w/10 (break* w/5 fee) Project Easy Living or EZ Living (Arch* or ASN or ASOT) w/10 (complete* or close* or consum*) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" (rais* or increase* or grow* or us*) w/5 (risk appetite or RA) (risk appetite or RA or VaR) w/7 (breach* or over* or compare*) w/5 limit* 89

Time Period

Date of Request 6/18/2009 6/18/2009

12/20061/2007-7/2007

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

3/2006-9/2007 3/2006-9/2007

6/18/2009 6/18/2009

Search Terms Limit w/5 (grow* or rais* or increase*) (off-site or offsite) w/5 (RA or risk appetite) Strateg* w/7 (grow* or increase* or rais*) (BOD or *bd* or Board or Directors or BRD) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) (Audit or Finance or Nominating or Compensation) w/5 committee w/10 (presen* or report* or material* or disclose* or update* or inform* or fil*) Archstone w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "EZ Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASN" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Arch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASOT" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Diversity Funding" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) 90

Time Period 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 12/2006-

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms "Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Northern Rock" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Prologis" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Dermody" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ProLogic" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Coeur Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Dame" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "La Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Carlyle" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Windermere XIV" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Win 14" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "SunCal" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Ritter Ranch" w/20 (limit or risk or exposure or 91

Time Period 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/2006-

Date of Request 6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Delta Shores" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Galaxy" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "College Park" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Inland Empire" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or (get w/5 rid)) (CRO or "chief risk officer" or antoncic or Madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid)) divers* w/2 benefit (Pine or Spruce or Kingfisher or Verano or Ruby or Clio or Leoforos or 7th Avenue or Thalia or Sasco or Cayman Partners or Delta Topco or HD Supply or Fenway) w/20 (collateral or *liquid* or JPM or *morgan) (10-K or 10K or 10-Q or 10Q) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) Search 19:

Time Period 9/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 1/2007-7/2007

Date of Request

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

92

Custodians: Robert Azerad (7) Search Terms ((risk appetite or VaR or RA) w/20 (calculat* or analyz* or analys* or estimat* or comput* or evaluat* or assess*)) Search 20: Custodians: Paul Shotton (4) Madelyn Antoncic (3) Mark Weber Paul Zakian Nachi Das Fong Liu Search Terms NYSE w/10 (exam* or audit* or review*) Time Period 1/1/200612/31/07 Date of Request 6/18/2009 Time Period 12/2006Date of Request 6/18/2009

Search 21: Custodians: Anthony Barsanti James Blankmore Brett Bossung Jonathon Cohen Emily Davis-Knight Mark Gabbay Lynn Gray Robert Hedlund Mark Newman 93

John Niebuhr Mike Odrich Coburn Packard Thomas Pearson

Search Terms Archstone w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "EZ Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASN" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Arch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASOT" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Diversity Funding" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Northern Rock" w/20 (limit or risk or exposure or 94

Time Period 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/2006-

Date of Request 6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Prologis" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Dermody" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ProLogic" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Coeur Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Dame" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "La Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Carlyle" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Windermere XIV" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Win 14" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "SunCal" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Ritter Ranch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Delta Shores" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or 95

Time Period 9/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

Date of Request

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms brd or bd or mark* or MTM) "Project Galaxy" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "College Park" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Inland Empire" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) Search 22: Custodions: Richard Gladwin Tom Humphrey Satu Parikh Jerry Rizzeri Chuck Watson Search Terms ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or (get w/5 rid)) (CRO or "chief risk officer" or antoncic or Madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid)) Search 23: Custodians: 96

Time Period

Date of Request 6/18/2009

10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

6/18/2009

6/18/2009

Time Period 1/2007-7/2007

Date of Request 6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

Beth Rudofker (4) Erin Callan (9) Ian Lowitt (1) Dave Goldfarb (9) Martin Kelly (2) Laura Vecchio (4) Search Terms "e and y" e&y ernst* @ey.com @uk.ey.com Search 24: Custodians: Martin Kelly (2) Anthony Stucchio Spencer Kagan Lynn Gray Al Picallo Search Terms (Real Estate or High Yield or Leveraged Loan or HY ) w/15 (Risk Appetite or RA or (rais* w/5 limit*) or breach* or deal pipeline or exposure limit or deal level balance sheet or board or directors of BOD or brd or bd or mark* or MTM) (Archstone or Easy Living) w/2 (Barclays or Bank Of America)) Archstone w/5 (2008 w/2 update) Archstone w/5 (2007 w/2 update) (Tishman or Speyer or Multifamily Fund) AND 97 Time Period 5/2007 9/2008 Date of Request 6/18/2009 Time Period 12/200612/200612/200612/200612/2006Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

5/2007 9/2008 5/2007 9/2008 5/2007 9/2008 5/2007 9/2008

6/18/2009 6/18/2009 6/18/2009 6/18/2009

Search Terms (Confidential Information Memorandum or CIM) (Archstone or Easy Living) w/2 (Syndication /3 Status) ((Real Estate Deal OR Level Balance Sheet) AND (Archstone or Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW or Diversity Funding or Prologis or Coeur or Carlyle or Project Murphy or Heritage Fields or 237 Park or Hilton Or Easy Living or Project Gospel or Northern Rock or Prologis or Dermody or Ashmun or Coueur or Carlyle or Win 14 or Project Murphy or Heritage Fields or 237 Park or Project Murphy or Northstar or GEM)) ((Loan or Deal) w/2 (Prospectus or Agreement or (Term Sheet))) (Archstone Business Plan and Syndication Update) ((Easy Living or Gospel or Northern Rock or Prologis or Dermody or Ashmun or Coueur or Carlyle or Win 14 or Project Murphy or Heritage Fields or 237 Park or Project Murphy or Northstar or GEM or Archstone or Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW or Diversity Funding or Prologis or Coeur or Carlyle or Project Murphy or Heritage Fields or 237 Park or Hilton) AND ((GREG Regional Credit Committee) or (GREG Global Credit Committee) or (Firm Commitment Committee) or (Investment Committee) or (Bridge Loan Committee) or (New Product Committee) or (New Products 98

Time Period

Date of Request 6/18/2009 6/18/2009

5/2007 9/2008 5/2007 9/2008

5/2007 9/2008 5/2007 9/2008 5/2007 9/2008

6/18/2009 6/18/2009 6/18/2009

Search Terms Committee) or (Commitment Committee) or (Executive Committee))) (Appraisals w/5 (Archstone or Easy Living or Project Gospel or Northern Rock or Prologis or Dermody or Ashmun or Coueur or Carlyle or Win 14 or Project Murphy or Heritage Fields or 237 Park or Project Murphy or Northstar or GEM)) Fail* w/2 sale* "CLO" or "CLOs" or "CDO" or "CDOs" securitize* or structured FAS (Freedom or Verano or Spruce or Pine or SASCO or Excalibur or Fenway or Thalia) Search 25: Custodians: Jasit Bhattal Hyung Lee George Walker

Time Period

Date of Request

5/2007 9/2008

6/18/2009

12/2007-9/2008 12/2007 -5/2008 10/2007 9/2008 12/2007 9/2008 3/2008 - 9/2008

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

Search Terms (BOD or *bd* or Board or Directors or BRD) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool) (Audit or Finance or Nominating or Compensation) w/5 committee w/10 (presen* or report* or material* or disclose* or update* or inform* or fil*) "balance sheet" w/20 (limit* or use* or target or incre* or breach* or rais* or exceed*) ("EAF" or equity adequacy framework) w/20 (deficit or short* or underage or reduc* or low*) ("EAF" or equity adequacy framework) w/20 ("less99

Time Period 12/2006-

Date of Request 6/18/2009

12/2006-

6/18/2009

12/2006-12/31/08 12/200612/2006-

6/18/2009 6/18/2009 6/18/2009

Search Terms liquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("lessliquid" or "less liquid" or illiquid) ("EAF" or equity adequacy framework) w/20 ("trading loss*" or counterpart* loss* or "liquidation loss*") ("EAF" or equity adequacy framework) w/20 "liquidation loss*" w/10 asset w/10 (mark or MTM or haircut*) ("EAF" or equity adequacy framework) w/10 alloca* w/10 mortgage* or "real estate" or "commercial" or "HG" or "HY" ("EAF" or equity adequacy framework) w/20 "FID" or "fixed income" w/10 "charge" "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" "Contingent Acquisitions" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Thunder" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Normandy" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project V" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Palm" w/20 (breach or violat* or limit or risk 100

Time Period

Date of Request 6/18/2009 6/18/2009

12/200612/2006-

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

Search Terms or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Rooster" w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Antelope" w/20 (breach or viol at* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) Lloyds w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) (Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW) w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or bod or directors or brd or bd or mark* or MTM) goodman* w/20 (alt-B or *altB* or alt b) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*alt-B* or *altB*) hedg* w/25 (alt-B or *altB* or alt b) hedg* w/25 (alt-B or *altB* or alt b) BNC w/20 ("80/20" or "Select Lending" or "Score Advantage") (CLTV or FICO or LTV) w/20 (underwrit* or guideline* or standard* or minimum or maximum) w/20 (tight* or new or adjust* or revised or change*) (Aurora or ALS or BNC) w/20 ("negative amortization" or "negatively amortized" or "Hybrid ARM" or "hybrid adjustable rate mortgage") (Aurora or BNC) w/20 (shutdown or cease* or discontin*) ("new products committee" or new product 101

Time Period

Date of Request

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

12/200612/200612/200612/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

12/200612/2006-

6/18/2009 6/18/2009

Search Terms committee) w/20 (mortgage or Aurora or BNC) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sacks* or can* or transfer* or terminat* or depart* or leav* or sack* or (get w/5 rid) or can*) (CRO or "chief risk officer" or antoncic or madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or sack* or (get w/5 rid)) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) Expos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub*) (altA or Alt-A) and (AltB or Alt-B) and (subprime or sub*) (Arch* or ASN or ASOT) w/10 (break* w/5 fee) Project Easy Living or EZ Living (Arch* or ASN or ASOT) w/10 (complete* or close* or consum*) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" (rais* or increase* or grow* or us*) w/5 (risk appetite or RA) (risk appetite or RA or VaR) w/7 (breach* or over* or compare*) w/5 limit* Limit w/5 (grow* or rais* or increase*) (off-site or offsite) w/5 (RA or risk appetite) 102

Time Period

Date of Request 6/18/2009

1/2007-7/2007

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

3/2006-9/2007 3/2006-9/2007 3/2006-9/2007 3/2006-9/2007

6/18/2009 6/18/2009 6/18/2009 6/18/2009

Search Terms Strateg* w/7 (grow* or increase* or rais*) Archstone w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Easy Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "EZ Living" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASN" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Arch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ASOT" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Diversity Funding" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Gospel" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Northern Rock" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd) "Prologis" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) 103

Time Period 3/2006-9/2007 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08

Date of Request 6/18/2009 6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms "Dermody" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "ProLogic" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Coeur Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Dame" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "La Defense" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Carlyle" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Windermere XIV" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Win 14" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "SunCal" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Ritter Ranch" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Delta Shores" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Project Galaxy" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "College Park" w/20 (limit or risk or exposure or 104

Time Period 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/20069/30/08 10/1/2006-

Date of Request 6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

6/18/2009

Search Terms commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) "Inland Empire" w/20 (limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) ((Michael or Mike or Gelband) or (head w/2 FID)) w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or (get w/5 rid)) (CRO or "chief risk officer" or antoncic or Madelyn or "MA" or O'Meara or Chris or "COM") w/10 (replac* or new or look* or hir* or interview*) ((Roger or Nagioff) or (head w/2 FID))w/10 (fir* or replac* or mov* or shift* or sack* or can* or transfer* or terminat* or depart* or leav* or resign* or (get w/5 rid)) ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *bd* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *exec* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* 105

Time Period 9/30/08 10/1/20069/30/08 1/2007-7/2007

Date of Request

6/18/2009

6/18/2009

5/2007 - 2/2008

6/18/2009

1/2008 -5/2008

6/18/2009

6/18/2009 12/2006 6/18/2009 12/2006 6/18/2009 12/2006 6/18/2009 12/2006 6/18/2009 12/2006 6/18/2009 12/20066/18/2009 12/2006

Search Terms ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 CCE)) antoncic* w/20 (risk* or expos*) antoncic w/20 (exec* w/5 *comm*) antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) (omeara* or *omeara* or *kirk* or *goldfarb* or *nagioff*) w/20 (*risk* or expos*) audit* w/20 *valu* (mark* or MTM or mark*to*market) w/15 (expos* or *risk*) (*risk framework*) or (risk* w/5 *framework*) 106

Time Period

Date of Request 6/18/2009

12/200612/2006 6/18/2009

12/2006-

6/18/2009

3/2008 3/2008 12/200612/2006 3/2008 3/2008 3/2008 3/2008 3/2008 12/200612/200612/200612/200612/20063/20083/200812/200612/200612/200612/200612/2006-

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

Search Terms ((*risk* or expos* or reliab* or accur*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/15 *model* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 violation* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 breach* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 excess* (caution or concern or increase or toxic or outsized or significant) w/10 channel w/10 (correspondent or bulk or *organic) (aur* or *BNC*) w/20 (dilig* or risk or expos*) (aur* or *BNC*) w/20 mort* ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* and *Expanded Options*) Trimont w/20 valu* *Aurora* w/10 *report* w/20 (default* or foreclosure* or epd or early payment default) *Golan* w/20 *Aurora* ((*risk* or *expos*) w/20 (BNC or Aurora or warehous* or securitiz* ) ((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* or downgrade) goodman* w/20 (alt-A or *altA* or *subprime*) ((mortgage or mbs or *risk* or expos* or subprime) w/20 concentrat* ((delinq* or *default*) w/10 (significant*, spike*, increase*, up* or rais* or rise*)) w/20 mort* RMBS w/10 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (CDO* or collateralized debt obligation) w/5 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (*risk* or expos* or mark* or mark*to*market or 107

Time Period

Date of Request 6/18/2009

12/200612/2006 12/2006 12/2006 6/18/2009 6/18/2009 6/18/2009 6/18/2009 12/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/200612/20066/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006-

6/18/2009

Search Terms MTM* or *valu*) w/5 CDS* ((*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/10 ABS* (mark* or mark*to*market or MTM* or *valu*) w/10 (real* w/5 *est*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (securitiz* or CDO) w/15 ((*legit* or true w/10 sale)) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub*) ((antoncic* or *risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*LBO* or *lever* or *buy-out* or *buyout* or bridge* or syndicat*) antoncic* w/20 (securit* or *warehous*) (mark* or mark*to*market or MTM* or *valu*) w/10 (arch* or *suncal* or arl* or austin*) bridge w/5 (equity or loan*) w/7 (expos* or *risk*) ((*risk* or expos*) w/5 synd*) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*power* or *plant*) (risk* or expos* or bridge* or syndicat*) w/20 *arch* (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) ((*risk* or expos*) w/10 CMBS) antoncic* w/20 *arch* (mark* or mark*to*market or MTM) w/5 (asset* or position or portfolio or CRE or real estate) (reduce* or (write* w/2 down or off)) w/5 (real or CRE or expos*) (mark* or mark*to*market or MTM) w/5 portfolio leverage* w/2 loan* w/10 (risk* or expos*) 108

Time Period

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/20063/20083/200812/2006 3/20083/2008 -

12/2006 -

6/18/2009

12/2006 3/200812/2006 12/2006 3/2008 3/2008 12/2006 3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

Search Terms ((risk* or expos*) w/10 LBO*) leverage* w/2 buy* w/2 out (loan* or equit*) w/15 (financ* or *invest*) (antoncic* or *risk* or expos*) w/25 (*MAC* or *material adverse change* or *MAE* or *material adverse effect* or covenant light) ((*capital* or *liquid*) w/15 model) w/25 stress* (o'meara or omeara) w/25 hedg* goodman w/25 hedg* hedg* w/20 (*effective* or correlat*) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) capital w/5 adequacy (*lever* or lvg) w/10 (*liquid* or *capital*) (*capital* or *liquid*) w/15 model* *liquid* w/20 (*warehous* or securit*) *liquid* w/20 (repurchas* and request* and loan*) audit* w/20 (*capital* or *liquid*) (*capital* or *liquid*) w/20 (expos* or *risk* or *suff* or *adeq*) audit* w/20 (*repo* or *finan*) under*capital* under w/2 capital* Undercapitalized (capital* or liquid*) w/15 (need* or risk* or scor* or low* or dire* or troubl* or problem) *exec* w/10 *comp* (*bonus* or numbers or incentive*) /10 (pool* or award* or book*) *recap* *paulson* *KDB* or Korea* or Korea Development Bank Euoo Sung Min EM w/5 (invest* or equity* or Korea) *SpinCo* or spin-off or spinoff or (*spin* w/ 5 *co*) 109

Time Period 12/2006 12/2006 12/2006 12/2006 -

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2006 1/2007 3/2008 3/2008 4/2008 4/2008 4/2008 3/2008 -

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/30/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

Search Terms *blackstone* or *black* w/5 *stone* ballyrock or *bally* w/5 *rock* *blackrock* or *black* w/5 *rock* *citi* w/20 *collat* (*neuberger* or *nb* or *berman*) w/20 (*sell* or *sale* or *contract* or *agreement*) (*neuberger* or *nb* or *berman*) w/20 (*neg* or *deal*) (BOA or bank of america or B of A or *BofA) w/20 (*sell* or *sale* or *contract* or *agree*) (BOA or bank of america or B of A or BofA) w/20 (*neg* or *deal*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*sell* or *sale* or *contract* or *agree*) (MS or Morgan Stanley or *morganstanley* or *morgan* or *stanley*) w/20 (*neg* or *deal*) Nomura w/20 (*sell* or *sale* or *contract* or *agree* or *deal* or *neg*) (*JPM* or *JP Morgan* or Chase) and (collat* w/10 *demand*) (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) (Commercial mezzanine debt) or mez debt w/10 (MTM or mark*to*market) (SSR or SS or super senior) w/10 (concern or caution or aggres*) assum* w/5 (wrong or bad or off or flaw*) (mark or mark*to*market or mtm or *valu*) (mark or mark*to*market or mtm or *valu*) w/20 (asset* or model* or method*) w/20 (write down or flaw* or aggres*) (mark or mark*to*market or mtm or *valu*) w/10 (inflat* or *over*) ((mark or mark*to*market or mtm or *valu*) w/10 110

Time Period 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 5/2008 5/2008 5/2008 -

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

5/2008 5/2008 8/2008 3/2008 3/2008 12/2006 12/2006 -3/2008 12/2006 12/2006 3/2008 --

6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

6/18/2009 6/18/2009

Search Terms *comp*) w/10 fixed* w/5 *income (mark or mark*to*market or mtm or *valu*) w/10 (real* w/5 *est*) (mark or mark*to*market or mtm or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (mark or mark*to*market or mtm or *valu*) w/10 (equit* or *liquid* or *debt*) (mark or mark*to*market or mtm or *valu*) w/10 (*power* or *plant*) (*pol* or *proced*) w/10 (*product* w/5 *control*) and (mark or mark*to * market or mtm) (ernst* or EY or E&Y or E and Y) w/15 (mark or mark*to*market or mtm or *valu*) divers* w/2 benefit (Pine or Spruce or Kingfisher or Verano or Ruby or Clio or Leoforos or 7th Avenue or Thalia or Sasco or Cayman Partners or Delta Topco or HD Supply or Fenway) w/20 (collateral or *liquid* or JPM or *morgan) (10-K or 10K or 10-Q or 10Q) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub* or risk appetite or RA or VaR or liquidity pool)

Time Period

Date of Request 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009 6/18/2009

3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 12/200612/2006-

12/2006-

6/18/2009

Search 26: Custodians: Matthew Lee Search Terms email messages sent from Michael (or Mike) McGarvey to Matthew Lee Search 27: Custodians: 111 Time Period 1/1/2008 9/22/2008 Date of Request 7/02/2009

Richard Abbott Kaushik Amin Robert Azerad Clement Bernard Erin Callan Tejal Joshi Martin Kelly Mitch King Ian Lowitt Mike McGarvey Marie Stewart Search Terms repo* w/5 (105 or 108) Time Period 8/2007 9/22/2008 Date of Request 7/22/2009

Search 28 Custodians: Joe Li Search Terms (Includes revisions of the Search #3 terms plus additional terms) ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *exec* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or 112 Time Period Date of Request 7/22/2009

12/2006 -

12/2006 -

7/22/2009

12/2006 -

7/22/2009

12/2006 -

7/22/2009

12/2006 -

7/22/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 CCE)) antoncic* w/20 (risk* or expos*) antoncic w/20 (exec* w/5 *comm*) antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) (omeara* or *omeara* or *kirk* or *goldfarb* or 113

Time Period

Date of Request

12/2006 -

7/22/2009

12/2006 -

7/22/2009

12/2006 -

7/22/2009

12/2006 -

7/22/2009

3/2008 3/2008 12/2006 12/2006 3/2008 3/2008 3/2008 3/2008 3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 3/2008 3/2008 12/2006 12/2006 -

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) *nagioff*) w/20 (*risk* or expos*) audit* w/20 *valu* (mark* or MTM or mark*to*market) w/15 (expos* or *risk*) (*risk framework*) or (risk* w/5 *framework*) ((*risk* or expos* or reliab* or accur*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/15 *model* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 violation* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 breach* (worst or stress*) w/2 (test* or event* or case* or scenario*) w/5 limit* w/5 excess* (caution or concern or increase or toxic or outsized or significant) w/10 channel w/10 (correspondent or bulk or *organic) (aur* or *BNC*) w/20 (dilig* or risk or expos*) (aur* or *BNC*) w/20 mort* ( caution or concern or increase or toxic or outsized or significant or chunky ) w/20 (aur* or *BNC*) Aurora* w/20 (*Mortgage Maker* or *Expanded Options*) Aurora w/20 (*Choice Advantage* or *Express Option*) Trimont w/20 valu* *Aurora* w/10 *report* w/20 (default* or foreclosure* or epd or early payment default) *Gollin* w/20 *Aurora* ((*risk* or *expos*) w/20 (BNC or Aurora or warehous* or securitiz* ) *Aurora* w/50 dashboard ((S&P* or Moody* or Fitch*) w/7 Lehman) w/15 (critic* or downgrade) goodman* w/20 (alt-A or *altA* or *subprime*) ((mortgage or mbs or *risk* or expos* or subprime) 114

Time Period

Date of Request

12/2006 12/2006 12/2006 12/2006 -

7/22/2009 7/22/2009 7/22/2009 7/22/2009

12/2006 12/2006 12/2006 12/2006 -

7/22/2009 7/22/2009 7/22/2009 7/22/2009

12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) w/20 concentrat* ((delinq* or *default*) w/10 (significant*, spike*, increase*, up* or rais* or rise*)) w/20 mort* RMBS w/10 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (CDO* or collateralized debt obligation) w/5 (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) (*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/5 CDS* ((*risk* or expos* or mark* or mark*to*market or MTM* or *valu*) w/10 ABS* (mark* or mark*to*market or MTM* or *valu*) w/10 (real* w/5 *est*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (securitiz* or CDO) w/15 ((*legit* or true w/10 sale)) (mark* or mark*to*market or MTM* or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub*) ((antoncic* or *risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (*LBO* or *lever* or *buy-out* or *buyout* or bridge* or syndicat*) antoncic* w/20 (securit* or *warehous*) (mark* or mark*to*market or MTM* or *valu*) w/10 (arch* or *suncal* or arl* or austin*) bridge w/5 (equity or loan*) w/7 (expos* or *risk*) ((*risk* or expos*) w/5 synd*) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) (mark* or mark*to*market or MTM* or *valu*) w/10 (*power* or *plant*) (risk* or expos* or bridge* or syndicat*) w/20 *arch* 115

Time Period

Date of Request

12/2006 12/2006 12/2006 -

7/22/2009 7/22/2009 7/22/2009

12/2006 12/2006 3/2008 3/2008 12/2006 3/2008 3/2008 -

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

12/2006 -

7/22/2009

12/2006 3/2008 12/2006 12/2006 3/2008 3/2008 12/2006 -

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (mark* or mark*to*market or MTM* or *valu*) w/10 (equit* or *liquid* or *debt*) ((*risk* or expos*) w/10 CMBS) antoncic* w/20 *arch* (mark* or mark*to*market or MTM) w/5 (asset* or position or portfolio or CRE or real estate) (reduce* or (write* w/2 down or off)) w/5 (real or CRE or expos*) (mark* or mark*to*market or MTM) w/5 portfolio leverage* w/2 loan* w/10 (risk* or expos*) ((risk* or expos*) w/10 LBO*) leverage* w/2 buy* w/2 out (loan* or equit*) w/15 (financ* or *invest*) (antoncic* or *risk* or expos*) w/25 (*MAC* or *material adverse change* or *MAE* or *material adverse effect* or covenant light) ((*capital* or *liquid*) w/15 model) w/25 stress* (o'meara or omeara) w/25 hedg* goodman w/25 hedg* hedg* w/20 (*effective* or correlat*) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) hedg* w/25 ((real w/3 estate) or *subprime* or alt-a or *altA* or mort* or LBO) capital w/5 adequacy (*lever* or lvg) w/10 (*liquid* or *capital*) (*capital* or *liquid*) w/15 model* *liquid* w/20 (*warehous* or securit*) *liquid* w/20 (repurchas* and request* and loan*) audit* w/20 (*capital* or *liquid*) (*capital* or *liquid*) w/20 (expos* or *risk* or *suff* or *adeq*) audit* w/20 (*repo* or *finan*) under*capital* under w/2 capital* Undercapitalized 116

Time Period

Date of Request 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

12/2006 12/2006 12/2006 12/2006 12/2006 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 12/2007 -

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) (capital* or liquid*) w/15 (need* or risk* or scor* or low* or dire* or troubl* or problem) ballyrock or *bally* w/5 *rock* assum* w/5 (wrong or bad or off or flaw*) (mark or mark*to*market or mtm or *valu*) (mark or mark*to*market or mtm or *valu*) w/20 (asset* or model* or method*) w/20 (write down or flaw* or aggres*) (mark or mark*to*market or mtm or *valu*) w/10 (inflat* or *over*) ((mark or mark*to*market or mtm or *valu*) w/10 *comp*) w/10 fixed* w/5 *income (mark or mark*to*market or mtm or *valu*) w/10 (real* w/5 *est*) (mark or mark*to*market or mtm or *valu*) w/10 (*CDO* or *collat* or *ABS* or *CDS*) (mark or mark*to*market or mtm or *valu*) w/10 (equit* or *liquid* or *debt*) (mark or mark*to*market or mtm or *valu*) w/10 (*power* or *plant*) (*pol* or *proced*) w/10 (*product* w/5 *control*) and (mark or mark*to * market or mtm) (ernst* or EY or E&Y or E and Y) w/15 (mark or mark*to*market or mtm or *valu*) (risk w/3 appetite) w/10 (breach or violat* or exce* or overage) (risk w/3 appetite) w/10 over w/3 limit limit w/5 (breach or violat* or exce* or overage or (over w/3 limit)) (limit w/5 ( use* or usage)) w/10 (breach or violat* or exce* or overage) ((risk w/3 appetite) w/10 (increas* or rais* or higher or change or modify or revis*)) countercyclical w/5 (growth or strategy) Antoncic w/10 (fire* or replace* or move* or shift* or sack* or rid* or demot*) 117

Time Period

Date of Request 7/22/2009 7/22/2009 7/22/2009 7/22/2009

12/2007 3/2008 3/2008 12/2006 -

12/2006 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 3/2008 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 12/2006 -

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) Antoncic w/15 (whistle* or blow*) Antoncic w/10 play* not w/3 (commercial or weak or ridicul* or impossib*) Antoncic w/10 play* w/3 ball Gelband w/10 (fire or replace or move or shift or sack or can* or transfer* or terminat*) (Suncal or Coeur or Prologis or Diversity or Gospel or Imperial or Alcoa or Ford or FMC or DT or Altria or GECC or General Electric Capital or Deutsche) w/10 (risk* or expos* or commit*) CSE w/10 ((tier 1 or one) or capital ratio and (increas* or high* or rais*)) Liquid* w/10 thirty (B or billion or bn) or 30 (B or billion or bn) *repurchase requests* w/20 (*BNC* or aur*) BNC w/3 Al* Beltran w/3 Al* (Energy Future or TXU or First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or TSB or Local Insight or LIM or Debital or CDW) w/20 (breach or violat* or limit or risk or exposure or commitment or valu* or board or bod or directors or brd or bd or mark* or MTM) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blowout")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 118

Time Period

Date of Request 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

12/2006 12/2006 12/2006 12/2006 - 9/2008 12/2006 -

12/2006 9/2008 12/2006 12/2006 12/2006 12/2006 - 9/2008

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008

7/22/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) board* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *exec* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *comm* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 *reg* ((*risk* or *expos* or valu* or method*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/10 audit* ((*risk* or *expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 mort* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/20 hedge* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 *liquid* ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w25 *capital* (effect* or resp*) w/10 (bear* or stearn* or subprime or crisis or credit*) (react* or lesson*) w/10 (bear* or stearn* or sub* or crisis) ((risk* or expos*) w/20 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) (fixed* w/5 *income) or (FID) w/10 antoncic* ((fixed w/5 income) or FID) w/10 (risk* w/20 counterparty) ((fixed w/5 income) or FID) w/10 (risk* w/20 CCE)) ((fixed w/5 income) or FID) w/10 (expos* w/20 119

Time Period

Date of Request

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008

7/22/2009

12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

Search Terms (Includes revisions of the Search #3 terms plus additional terms) counterparty)) ((fixed w/5 income) or FID) w/10 (expos* w/20 CCE)) antoncic* w/20 (risk* or expos*) antoncic w/20 (exec* w/5 *comm*) antoncic* w/20 (hedg*) antoncic* w/25 (fuld* or *goldfarb* or *gregory*) antoncic* w/25 *chunky* (*pol* or *proced*) w/10 (*product* w/5 *control*) (ernst* or EY or E&Y or E and Y) w/15 *valu* (loan* or equit*) w/15 (financ* or *invest*) Search 29 Custodian: Jeffrey Welikson Search Terms board or "bod" or directors or brd or bd

Time Period

Date of Request

12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008 12/2006 - 9/2008

7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009 7/22/2009

Time Period 10/2006-

Date of Request 7/24/2009

Search 30 Custodian: Fred Orlan Search Terms limit w/5 (breach or violat* or exce* or overage or (over w/3 limit)) (limit w/5 ( use* or usage)) w/10 (breach or violat* or exce* or overage) ((risk w/3 appetite) w/10 (increas* or rais* or higher or change or modify or revis*)) (risk appetite or RA or VaR) w/7 (breach* or over* 120 Time Period 12/200612/200612/200612/2006 Date of Request 7/24/2009 7/24/2009 7/24/2009 7/24/2009

Search Terms

Time Period

Date of Request 7/24/2009 7/24/2009

or compare*) w/5 limit* Limit w/5 (grow* or rais* or increase*) 12/2006 "Contingent Acquisitions" w/20 (breach or violat* or 12/2006limit or risk or exposure or commitment or valu* or board or "bod" or directors or brd or bd or mark* or MTM) Energy Future or project thunder or TXU or 12/2006First Data or FD Goldman Sachs or GS or Education Media or EMPG or Applebees or Project Antelope or Home Depot or HD or Endemol or GSCP or Advent International or Lloyds or caballero or TSB or Local Insight or Project Palm or LIM or Debitel or CDW or project rooster or Project Normandy or Houghton or riverdeep or six gear or project v Search 31 Custodian: Henry Domenici Carlo Pellarani Helmut Olivier Search Terms Time Period

7/24/2009

Pine or Spruce or Kingfisher or Verano or Ruby or 12/2006Clio or Leoforos or 7th Avenue or Thalia or Sasco or Cayman Partners or Delta Topco or HD Supply or Fenway ECB or European Central Bank 12/2006 Search 32 Custodians: Mark Weber Ryan Traversari 121

Date of Request 7/24/2009

7/24/2009

Search Terms *risk management* w/10 (section or portion or MD&A or discussion or segment or language or draft or updated or newest version or recent version or current version) *risk management* w/20 (edits or edited or edit or redlin* or tracked changes or track changes or changes tracked) (*risk management* or risk section or VaR or appetite or RA) w/15 (management or managements) w/5 (discus* or analys*) *other measures* or *one risk measure* or (increas* w/5 broad risk measure) (10-K or 10K or 10-Q or 10Q or quarter* or filing) w/20 (appetite or *risk* or limit or limits or breach* or usage or VaR or RA or overage*) (disclo* or remov* or take out or take it out or leave out or leave it out or left out or unnecessar* or not necessary or dont need to or do not need to or doesnt want to or against or includ* or shouldnt or should not or omit*) w/10 (appetite or other measures or other risk or *risk management*) average risk appetite usage or balance sheet, capital and risk (Board or BoD or bd or brd) w/10 (financ* or appetite or usage or limit or limits or breach* or risk or ((slide or slides or presentation) w/6 financ*) (market environment and revenues/expenses and profitability) or (figures represent average of daily usage) or (figures represent average daily usage) S-K w/15 305 reg-y or regulation-y or reg y or regulation y Financial Information w/2 .ppt OMeara* w/10 (presentation or risk or board or BoD or bd or brd) Finance w/5 committee

Time Period 8/1/07-2/28/08

Date of Request 7/24/2009

8/1/07-2/28/08

7/24/2009

8/1/07-2/28/08

7/24/2009

8/1/07-2/28/08 8/1/07-2/28/08

7/24/2009 7/24/2009

8/1/07-2/28/08

7/24/2009

5/1/075/1/07-

7/24/2009 7/24/2009

8/1/07-2/28/08

7/24/2009

8/1/07-2/28/08 5/1/075/1/075/1/075/1/07-

7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009

122

Search 33 Custodian: Mark Weber Search Terms limit w/8 (breach or violat* or excee* or overage or increas* or rais* or barely) Over w/5 limit or limits (limit w/5 ( use or usage)) w/10 (breach or violat* or excee* or overage) ((risk w/3 appetite) or RA or VAR) w/10 (increas* or rais* or higher or chang* or modif* or revis*) (risk appetite or RA or VaR) w/7 (breach* or over* or compare*) w/5 limit* Stress w/4 test* (risk or appetite or VAR or RA) w/10 (cse or sec) ((risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky)) w/25 (*liquid* or *capital*) ((risk* or expos*) w/10 (warehous* or securit*)) (fixed w/5 income) or (FID) w/10 (risk* or expos*) ((fixed w/5 income) or FID) w/10 (anotncic* or (risk* w/20 counterparty) or (risk* w/20 CCE) or (expos* w/20 counterparty) or (expos* w/20 CCE)) antoncic* w/20 ((risk* or expos*) or (exec* w/5 *comm*) or (hedg*)) Archstone or bridge equity w/15 (breach* or late or should have or calculat* or violat* or excee* or mistake or oversight or shouldve or havent been or we werent or leverag* or (over w/4 limit)) (ernst* or EY or E&Y or E and Y) w/15 ((risk or appetite or VaR or RA) w/8 (materials or statistics or suppor* or documentation or evidenc*)) risk w/10 audit (*risk framework*) or (risk* w/5 *framework*) ((*risk* or expos* or reliab* or accur*) and ( caution or concern or increase or toxic or outsized or significant 123 Time Period 12/200612/200612/200612/200612/200612/20068/1/07-2/28/08 12/2006Date of Request 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009

12/200612/2006 3/2008 -

7/24/2009 7/24/2009 7/24/2009

12/20065/2007-

7/24/2009 7/24/2009

3/2008 -

7/24/2009

12/200612/200612/2006-

7/24/2009 7/24/2009 7/24/2009

Search Terms or chunky )) w/15 *model* (worst or stress*) w/4 (test* or event* or case* or scenario*) w/5 limit* w/5 (violation* or breach* or excess*) ((*risk* or expos*) and ( caution or concern or increase or toxic or outsized or significant or chunky )) w/20 (Alt-A or *AltA* or *sub*) ((*risk* or expos*) w/5 synd*) countercyclical w/5 (growth or strategy) Antoncic w/10 (fire* or replace* or shift* or sack* or rid or demot* or (whistle* or blow*)) Antoncic w/10 play* w/3 ball Antoncic w/10 play* not w/3 (commercial or weak or ridicul* or impossib*) Gelband w/10 (fire or replace or sack or transfer* or terminat* or canned) CSE w/10 ((tier 1 or one) or capital ratio and (increas* or high* or rais*)) "balance sheet" w/12 (limit* or usage or target or increa* or breach* or rais* or excee*) "Bull Steepening" or "Bull Flattening" or "Bear Flattening" or "Bear Steepening" or "Russian default" or "EMG" or ("stress test" w/5 "rating default") or ("stress test" w/5 "hedge fund" w/2 (risk or "blow-out")) or ("stress test" w/5 "HY") or ("LBO" w/2 "default risk") or ("stress test" w/5 "equity crash") or "Black Monday" or "Parallel Move Down" or "Parallel Move Up" or "Oil Supply Crisis" or "Liquidity Crunch" (10-K or 10K or 10-Q or 10Q) w/20 (altA or Alt-A or AltB or Alt-B or subprime or prime or subprime or sub prime) Disclos* w/10 (altA or Alt-A or AltB or Alt-B or subprime or prime or sub-prime or sub prime) Shocked or speechless or stupid* or huge mistake or big mistake or dumb or cant believe or cannot believe or serious trouble or big trouble or unsalvageable or too late or ((breach or violat*) w/5 (duty or duties or obligation*)) or nothing we can 124

Time Period

Date of Request 7/24/2009

12/2006 -

3/2008 -

7/24/2009

12/2006 12/200612/200612/200612/200612/200612/200612/200612/2006-

7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009 7/24/2009

12/2006-

7/24/2009

12/2006 12/2006-

7/24/2009 7/24/2009

Search Terms do or uncomfortable or not comfortable or I dont think we should or very sensitive or highly sensitive or very confidential or highly confidential or strongly disagree or do not share this or dont share this or between you and me or just between us or ((cant or cannot or shouldnt or should not or wont or will not) w/5 (discuss or talk about) w/5 (email or e-mail or computer)) or (should w/5 (discuss or talk) w/5 (phone or in person)) Search 34 Custodians: Brian Barry Anthony Barsanti Clement Bernard Brett Bossung Jonathan Cohen Ken Cohen Steven Fischler Richard Fuld Michael Gelband Jeff Goodman Lynn Gray Joe Gregory Steve Hash Paul Hughson Spencer Kagan Abe Kebede Ari Koutouvides Larry Kravetz David Lazarus Ian Lowitt Andrew Morton Roger Nagioff Chris O'Meara 125

Time Period

Date of Request

Don Petrow Gerry Reilly Melissa Sullivan Mark Walsh

Search Terms *Trimont* Search 35 Custodians: Meredith Adler Michael Brennan Allyson Carine Matthew Clinton Maximillian Coreth Jeff Frase Peter Keavey David Levin Timothy Luke Stephen Lukow Thomas Marino James Macintosh Daniel O'Connor Satu Parikh Jerry Rizzieri Rob Ruckman

Time Period 1/2007-9/15/2008

Date of Request 8/11/2009

Search 1: All e-mails for which the above custodians are a sender or recipient from 8/25/08 to 8/29/08. Search 2: All e-mails for which the above custodians are a sender or recipient from 9/14/08 to 9/22/08. Search 36 Custodians: 126

Jonathan Chalfen Jeff Goodman Manhua Leng Michelle Ng Chris OMeara Lisa Rathgeber Paul Shotton Ryan Traversari Mark Weber Search Terms - NO SEARCH TERMS Time Period 9/2007-3/31/2008 Date of Request 8/28/2009

Search 37 Custodians: Erin Callan Eric Felder Richard Fuld David Goldfarb Joe Gregory Ed Grieb Ian Lowitt Herbert McDade Hugh McGee Andrew Morton Chris OMeara Gerard Reilly Thomas Russo George Walker Search Terms Repo 105 or Repo 108 Time Period 1/1/20079/30/2008 Date of Request 12/2/2009

127

 Exhibit5.2

STRATIFY - Documents Loaded into Examiner Site Custodian *Lyons.Timothy* Abbott.Robert Abrary, Ray Adler.Meredith Ames.Mark Angley.Sharyn anton Antoncic, Madelyn Aronow.David Azerad.Robert Babar.Usman Bachman.Gary Barry.Brian Barsanti.Anthony Baumert.Karl Beeson.Lisa Beldner.Brett Berkenfeld, Steven Bernard.Clement Besen.ElizabethR Bhattal.Jasit Binkley.Tracy Birney.Janet Blackwell.Alastair Blankmore.James Bossung.Brett Boyle.Julie Brennan.Michael(FI) Butler.Shaun Calistri.Peter Callan.Erin Calo.Jerry Carine.Allyson Ccmfixedincome Cerullo.MarioS Chalfen.Jonathan Chan, David Cheuk.ChiChun Chopra.Neeraj Chopra.Nitin Chu.JiYeong Clinton.Matthew Coghlan.John Cohen.Jonathan Cohen.Kenneth Cohn.Steven Collerton.AnthonyJ Colombo.StevenJ Coreth.Maximilian Cornejo, Emil

Crepeau.Alex Critchett.Emily Das.Nachiketa Davis.Emily Delong.Jay Denig.Nancy Dinnie.Kevin DiscoverReady Delivery 20091020_01 Dolan.StephanieE Domenici.Henry Donini.Gerald Echtermann.Heidemarie Eickbush.Gregory Emmert.James Engel, Steve Errington.Hibbert Felder.Eric Feraca, John Ferguson.Nancy Fielding, Stirling Finnegan.Brian Finnegan.Mark Fischler.Steven Fitzgibbon.Jennifer Fleming, Daniel Flynn.RichardF Forsyth.David Frase.Jeff Freedman.Josh Freidheim.Scott Fuld.Richard Gabbay.Mark Garvey.Brendan Gatto.Joseph Gelband.Michael Gibson.Rhona Gilhool.Francis Gladwin.Richard Goldband.Craig Goldfarb.David Goodman, Jeffrey Gorman.Les Graham.Kettle Gray.Lynn Gregory.Joseph Grieb.Edward Guarino.Jim Guglielmo.Robert Guth. Aaron Hadingham.Peter Harrison.Claire Haseruck.Dirk Hash.Steven Head.Brian

Hedlund.Robert Heike.David Heyder.Ingrid Hibbert.Eric Higham.Paul Hope.Wiliam Hornick.Peter Hraska.James Hughson.Paul Humphrey.Thomas Igoe.Joseph Imundo.Jonathan Isaacs.Jeremy Ito, Gregory Janulis,Ted Johnson.Jack Jones, Craig Jones,Barry Jones.Keith Joshi.Tejal Judd.Angela Kagan.Spencer Kalra.Abhishek Kanamori.Yasumichi Kaushik, Amin Keavey.Peter Kebede.AbebualA Kelly, Martin Killerlane.James Killfeather.MichaelF Kimmel.Scott King.George King.Mitchell Kirk.Alex Klinger.Jeff Koutouvides.Ari Kozlov.Anatoly Kravetz.LarryJ Kritikos, Demetrios Kulikov.Maxim Lane.Andrew Larson.EricD Lauckhardt.Shelby Lazarus.David LBECmember LBECAssistants Lechner.Scott Lee,Matthew Lee.Hyung Leng.Manhua Lessing.Stephen Leung.Jacklyn Levin.David Li,Joe

Lista.William Liu.Fong Lohuis.David Loughborough.John Lowitt, Ian Lowitt,Ian Luglio.Thomas Luke.Tim Lukow.Stephen Lyons.Timothy Macintosh.James Mallet_Review Marino.Tom Markowitz.Meryl Masuda.Yukihiro Mawe.John McDade, Bart McDonald.Gregory McGarry,Patrick McGarvey.Michael McGee, Hugh McKinney.Rich Miller.Matt Morton.Andrew Multiple_BoA Murphy.Erin Nagioff, Roger Nagpal.Ajay Narayn.TK Nevarez.Ilka Newman.Mark Ng.Chiu Ng.Michelle Nguyen.Long Niebuhr.John O.Connor.DanielT O.Connor.Matthew Odrich.Mike Olivier.Helmut Omeara 3/1/07-12/31-07 Omeara, Christopher Search 04/19/09 15:41 OReilly.David Orlan.Fred Packard.Coburn Palchynsky.John Parikh.Satu Park.Jennifer Park.Seth Parker.Paul Paulson.Richard Pearson.Thomas Pellerani.Carlo Petrow.Donald

Picallo.Albert Plaisant.Michael Plavan.Katherine Policke.Richard Polisi.Catherine Principato.Janice Priolo.Anthony Puljic.Goran Radicopoulos.Billy Rahavy, Sean Rathgeber.Lisa Rees.Huw Reilly.Gerard Rizzeri.Jerry Roake.Michael Ruckman.Rob Rudofker, Beth Ruiz.WilliamH Russo.Thomas Sapia.Joseph Schreiber.Russell Sciacca.Brian Seery.James Servidio.Lawrence Shafir, Mark Shah.Amit Shapiro, Mark Sherr, David Shotton, Paul Singh.Harlin Snell.Scott Song.LingFeng Spero.Charles Stabenow.Sigrid Stephenson.Ros Stewart.Marie Stucchio.Anthony Sullivan.Melissa Sullivan.Tim Sutherland.Erika Sweely.Gordon Telmer.Colin Tham.John Tonucci, Paolo Traversari.Ryan Tuosto.John Umezaki, Kentaro Uttam.Abhinav Vecchio, Laura VergelDeDios.John Vongsa.Dala Walenczyk.William Walker.George Walsh.Mark

Wang.RobertoY Watson.Chuck Weber.Mark Weiss.Jeff Welikson, Jeffrey Wenig.Barbara Wickham.John Wieseneck.Larry Wind.Thomas Wise.Monique Wong.Kristie Yeleswarapu.Sudarsana Yeung, Andrew Zakian.Paul Zusy.MarkL

 Exhibit5.3

WEIL, GOTSHAL MANGES & LLP

767 FIFTH A V E N U E
N E W YORK. N Y I 0 1.53 ( 2 12) 3 1 0 - 8 0 0 0 AUSTIN BOSTON BRUSSELS BUDAPEST DALLAS FRANKFURT HOUSTON LONDON MIAMI MUNICH PARIS PRAGUE PROVIDENCE SHANGHAI JONATHAN D. POLKES
DIRECT LINE (21 2) 3 10-8881

FAX: ( 2 12) 3 1 0 - 8 0 0 7

S I L I C O N VALLEY

E-MAIL: ~omrhan.polker@weil.com

May 26,2009

SINGAPORE WARSAW W A S H I N G T O N . D.C.

BY FEDEX AND E-MAIL Robert L. Byman Jenner & Block LLP 330 N. Wabash Avenue Chicago, IL 606 1 1-7603
Re: Lehman Brothers Holdings Inc., Document Protocols in Examiner Investigation

Dear Bob: We write to memorialize our previous discussions concerning (1) the Examiner's disclosure of documents produced by Lehman and (2) the protocols related to Lehman's "claw-back" of privileged documents inadvertently produced to the Examiner by Lehman. The Examiner has sought a large volume of documents and information and asked Lehman to expedite this production. Accordingly, Lehman and the Examiner have agreed to supplement the Stipulation entered into between the parties and ordered by the Bankruptcy Court on January 9, 2009 (the "January 9 Stipulation") as set forth below. Pursuant to the January 9 Stipulation, Lehman's production of any documents and information ("Shared Information") subject to a claim of confidentiality, attorney-client privilege, attorney work product, or any other privilege is not a waiver of any claim of privilege, confidentiality, or other protection with respect to that or any other Shared Information. In the event that privileged or protected Shared Information is inadvertently produced to the Examiner, Lehman shall notify the Examiner in writing.

Robert L. Byman, Esq. May 26,2009 Page 2

The Examiner shall promptly collect all copies of protected or privileged Shared Information and return them to Lehman, or shall inform Lehman in writing that all copies of such material have been deleted or destroyed. If, in the course of the Examiner's own review of Shared Information, the Examiner identifies material for which it believes a valid privilege may exist, the Examiner shall promptly notify Lehman. The Examiner shall collect all copies of the privileged Shared Information and return them to Lehrnan, or shall inform Lehman in writing that all copies of such material have been deleted or destroyed. Pursuant to paragraph 16 of the Preliminary Work Plan of Anton R. Valukas, Examiner, February 17, 2009 (the "Preliminary Work Plan"), and as previously agreed with you, the Examiner may make Shared Information publicly available through a document depository "subject to redactions for applicable privileges and confidences." Accordingly, the Examiner shall notify Lehman at least thirty (30) days prior to making Shared Information available to interested third parties through a document depository. Notwithstanding paragraph 5 of the January 9 Stipulation, Lehman and the Examiner agree that the January 9 Stipulation does not preclude the Examiner from disclosing Shared Information to current or former Lehman employees, and their counsel, in connection with interviews of current or former Lehman employees related to the Examiner's investigation ("Employee Interviews"). The Examiner shall request that all copies of Shared Information disclosed in Employee Interviews are returned to the Examiner at the end of the interview. Finally, Lehrnan and the Examiner will each designate a person or persons to coordinate the clawback of Shared Information pursuant to the protocols set forth herein. The agreements memorialized herein shall apply to the production and disclosure of all Shared Information, whether produced or disclosed before or after the date of this letter. Please feel free to contact me should you have any questions concerning the above.

~ona$an D. Polkes

 Exhibit5.4

B254 (Form 254 Subpoena for Rule 2004 Examination) (12/07)

UNITED STATES BANKRUPTCY COURT

Southern

District of

New York

In re Lehman Brothers Holdings Inc., et al., , Debtor

SUBPOENA FOR RULE 2004 EXAMINATION

Case No.*

08-13555 11 (jointly administered)

To:

ABN AMRO Securities (USA) Inc. Park Avenue Plaza 55 E 52nd St. New York, NY 10055

Chapter

G YOU ARE COMMANDED to appear and testify at an examination under Rule 2004, Federal Rules of Bankruptcy Procedure, at the place,
date, and time specified below. A copy of the court order authorizing the examination is attached.
PLACE OF TESTIMONY DATE AND TIME

x G YOU ARE COMMANDED to produce and permit inspection and copying of the following documents or objects at the place, date, and time specified below (list documents or objects):
See attached rider.

PLACE

Jenner & Block LLP 919 3rd Avenue, 37th Floor New York, NY 10022-3908

DATE AND TIME

August 24, 2009

ISSUING OFFICER SIGNATURE AND TITLE

DATE
August 11, 2009

ISSUING OFFICERS NAME, ADDRESS, AND PHONE NUMBER

Robert L. Byman Jenner & Block LLP 919 Third Avenue, 37th Floor New York NY 10022-3908

(312) 923-2679

* If the bankruptcy case is pending in a district other than the district in which the subpoena is issued, state the district under the case number.

B254 (Form 254 Subpoena for Rule 2004 Examination) (12/07)

PROOF OF SERVICE
DATE PLACE

SERVED
SERVED ON (PRINT NAME) MANNER OF SERVICE

SERVED BY (PRINT NAME)

TITLE

DECLARATION OF SERVER I declare under penalty of perjury under the laws of the United States of America that the foregoing information contained in the Proof of Service is true and correct. Executed on
DATE SIGNATURE OF SERVER

ADDRESS OF SERVER

Rule 45, Federal Rules of Civil Procedure, Subdivisions (c), (d), and (e), as amended on December 1, 2007, made applicable in cases under the Bankruptcy Code by Rule 9016, Federal Rules of Bankruptcy Procedure:
(c) Protecting a Person Subject to a Subpoena. (1) Avoiding Undue Burden or Expense; Sanctions. A party or attorney responsible for issuing and serving a subpoena must take reasonable steps to avoid imposing undue burden or expense on a person subject to the subpoena. The issuing court must enforce this duty and impose an appropriate sanction which may include lost earnings and reasonable attorney's fees on a party or attorney who fails to comply. (2) Command to Produce Materials or Permit Inspection. (A) Appearance Not Required. A person commanded to produce documents, electronically stored information, or tangible things, or to permit the inspection of premises, need not appear in person at the place of production or inspection unless also commanded to appear for a deposition, hearing, or trial. (B) Objections. A person commanded to produce documents or tangible things or to permit inspection may serve on the party or attorney designated in the subpoena a written objection to inspecting, copying, testing or sampling any or all of the materials or to inspecting the premises or to producing electronically stored information in the form or forms requested. The objection must be served before the earlier of the time specified for compliance or 14 days after the subpoena is served. If an objection is made, the following rules apply: (i) At any time, on notice to the commanded person, the serving party may move the issuing court for an order compelling production or inspection. (ii) These acts may be required only as directed in the order, and the order must protect a person who is neither a party nor a party's officer from significant expense resulting from compliance. (3) Quashing or Modifying a Subpoena. (A) When Required. On timely motion, the issuing court must quash or modify a subpoena that: (i) fails to allow a reasonable time to comply; (ii) requires a person who is neither a party nor a party's officer to travel more than 100 miles from where that person resides, is employed, or regularly transacts business in person except that, subject to Rule 45(c)(3)(B)(iii), the person may be commanded to attend a trial by traveling from any such place within the state where the trial is held; (iii) requires disclosure of privileged or other protected matter, if no exception or waiver applies; or (iv) subjects a person to undue burden. (B) When Permitted. To protect a person subject to or affected by a subpoena, the issuing court may, on motion, quash or modify the subpoena if it requires: (i) disclosing a trade secret or other confidential research, development, or commercial information; (ii) disclosing an unretained expert's opinion or information that does not describe specific occurrences in dispute and results from the expert's study that was not requested by a party; or (iii) a person who is neither a party nor a party's officer to incur substantial expense to travel more than 100 miles to attend trial (C) Specifying Conditions as an Alternative. In the circumstances described in Rule 45(c)(3)(B), the court may, instead of quashing or modifying a subpoena, order appearance or production under specified conditions if the serving party: (i) shows a substantial need for the testimony or material that cannot be otherwise met without undue hardship; and (ii) ensures that the subpoenaed person will be reasonably compensated. (d) Duties in Responding to a Subpoena. (1) Producing Documents or Electronically Stored Information. These procedures apply to producing documents or electronically stored information: (A) Documents. A person responding to a subpoena to produce documents must produce them as they are kept in the ordinary course of business or must organize and label them to correspond to the categories in the demand. (B) Form for Producing Electronically Stored Information Not Specified. If a subpoena does not specify a form for producing electronically stored information, the person responding must produce it in a form or forms in which it is ordinarily maintained or in a reasonably usable form or forms. (C) Electronically Stored Information Produced in Only One Form. The person responding need not produce the same electronically stored information in more than one form. (D) Inaccessible Electronically Stored Information. The person responding need not provide discovery of electronically stored information from sources that the person identifies as not reasonably accessible because of undue burden or cost. On motion to compel discovery or for a protective order, the person responding must show that the information is not reasonably accessible because of undue burden or cost. If that showing is made, the court may nonetheless order discovery from such sources if the requesting party shows good cause, considering the limitations of Rule 26(b)(2)(C). The court may specify conditions for the discovery. (2) Claiming Privilege or Protection. (A) Information Withheld. A person withholding subpoenaed information under a claim that it is privileged or subject to protection as trial-preparation material must: (i) expressly make the claim; and (ii) describe the nature of the withheld documents, communications, or tangible things in a manner that, without revealing information itself privileged or protected, will enable the parties to assess the claim. (B) Information Produced. If information produced in response to a subpoena is subject to a claim of privilege or of protection as trial-preparation material, the person making the claim may notify any party that received the information of the claim and the basis for it. After being notified, a party must promptly return, sequester, or destroy the specified information and any copies it has; must not use or disclose the information until the claim is resolved; must take reasonable steps to retrieve the information if the party disclosed it before being notified; and may promptly present the information to the court under seal for a determination of the claim. The person who produced the information must preserve the information until the claim is resolved. (e) Contempt. The issuing court may hold in contempt a person who, having been served, fails without adequate excuse to obey the subpoena. A nonparty's failure to obey must be excused if the subpoena purports to require the nonparty to attend or produce at a place outside the limits of Rule 45(c)(3)(A)(ii).

 DOCUMENTRIDER PursuanttoFed.R.Civ.P.45,Fed.R.Bankr.P.2004andtheCourtsFebruary11, 2009Order(Order,attachedheretoasExhibitA),AntonR.Valukas,Esq.,the appointedExaminerforLehmanBrothersHoldings,Inc.(LBHI)anditsaffiliated debtors(Debtors),throughcounsel,herebyrequeststhatyouproducethedocuments describedbelowforinspectionandcopyingattheofficesofJenner&BlockLLP,919 ThirdAvenue,NewYork,NY100223908onAugust24,2009at10:30a.m. INSTRUCTIONS 1. DocumentshouldbeinterpretedasbroadlyaspermittedbytheFederalRules ofCivilProcedureandincludesalltangiblethingsandelectronicallystored information.Anytermsintheserequestsshouldlikewisebeinterpretedas broadlyaspossible.Referencestoentitiesshouldbeinterpretedbroadlyto includethenamedentityanditsaffiliates,parents,subsidiaries,officers, directors,employeesandagents. 2. AsdirectedbytheOrder,ifyouwithholdanydocumentsfromtheproduction baseduponaclaimofprivilege,provideExaminerscounselwithaprivilegelog containingtheinformationrequiredunderFed.R.Bank.P.7026withinten(10) daysofserviceoftheforegoingsubpoena. REQUESTS Please produce documents responsive to the below requests for May 1, 2008 to September30,2008. 1. Pleaseproducedocumentsthatconcern,discuss,evaluateoranalyzeshort selling,includingshortingornakedshortsellingofthestockofLBHIoranyofits affiliates,oranyactual,reported,orrumoredbasisforsuchshortselling, By:/s/RobertL.Byman RobertL.Byman JENNER&BLOCKLLP

919ThirdAvenue,37thFloor NewYork,NewYork100223908 Telephone:(212)8911600 Facsimile:(212)8911699 330NorthWabashAvenue Chicago,Illinois606117603 Telephone:(312)2229350 Facsimile:(312)5270484 AttorneysfortheExaminer

EXHIBITA

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ------------------------------------------------------------------------x In re LEHMAN BROTHERS HOLDINGS INC., et al., Debtors. ---------------------------------------------------------------------- x ORDER GRANTING EXAMINER'S MOTION DIRECTING THE PRODUCTION OF DOCUMENTS AND AUTHORIZING THE EXAMINATIONS OF THE DEBTORS' CURRENT AND FORMER OFFICERS, DIRECTORS AND EMPLOYEES, AND OTHER PERSONS AND ENTITIES Upon the Motion of Anton R. Valukas (the "Examiner") for an Order Directing the Production of Documents and Authorizing the Examination of the Debtors' Current and Former Officers, Directors and Employees, and Other Persons and Entities (the "Motion"); and the Court having reviewed the Motion and the exhibits submitted in support; and the Court being satisfied that adequate notice of the Motion has been provided in accordance with the procedures set forth in the order entered September 22, 2008 governing case management and administrative procedures [Docket # 285] (i) to the Court; (ii) counsel for the Debtors;' (iii) the U.S. Trustee; (iv) counsel for the Official Committee of Unsecured Creditors; (v) counsel for the Debtors' postpetition lenders; (vi) the Securities and Exchange Committee; (vii) the Internal Revenue Service; (viii) the United States Attorney for the Southern District of New York; (ix) any person with a particularized interest in the subject matter of the Motion; and (x) all parties who have requested notice in these Chapter 11 Cases; and (xi) it appearing that no other or further notice of the Motion need be provided; and after due deliberation and sufficient cause appearing therefor; it is hereby ORDERED Chapter 11 Case No. 08-13555 (JMP) (Jointly Administered)

' Capitalized terms not otherwise defined shall have the meaning ascribed to them in the Motion.

1. 2.

The Motion is granted. The Examiner is authorized, pursuant to Bankruptcy Rule 2004, to issue such

subpoenas as may be necessary to compel the production of documents and the testimony of Witnesses in connection with the Examiner's Investigation. 3. The Examiner shall serve each subpoena and a copy of this Order on the target of

the subpoena, with copy to (i) the Debtor; (ii) the Securities and Exchange Commission; (iii) the Internal Revenue Service; (iii) the SIPA Trustee; and (iv) the United States Attorney for the Southern District of New York. 4. As directed in 8 of the Examiner Order, the Examiner shall cooperate fully with

any government agencies including, but not limited to, any Federal, state or local government agency that currently or in the future may be investigating the Debtors, their management or their financial condition, and the Examiner shall use best efforts to coordinate with such agencies in order to avoid unnecessary interference with, or duplication of, any investigations conducted by such agencies. The Examiner will follow a protocol to be established with the governmental agencies for the sharing of information to the extent that such sharing benefits the Debtors' estates, and such sharing of information shall be subject to appropriate conditions to protect the Debtors' estates. 5. The Examiner shall file with the Court an affidavit or declaration of service

for each subpoena he serves. 6. Unless otherwise agreed to by the Examiner, Witnesses shall have ten (10) days

from the service of a subpoena to either (1) produce to the Examiner all responsive documents requested in the Examiner's subpoena, except as provided in 7 infra; or (2) file with the Bankruptcy Court an objection or response to the subpoena, with a hearing promptly scheduled.

7.

Unless otherwise agreed by the Examiner, if a Witness withholds any documents

from the production based upon a claim of privilege, such Witness is directed to provide counsel for the Examiner with a privilege log, containing the information required under Bankruptcy Rule 7026, within ten (10) days of the service of a subpoena upon the Witnesses. 8. The Witness is directed to submit to oral examination upon reasonable notice and,

absent other agreement with the Examiner, in no event more than fifteen (15) days from the date of service of a deposition subpoena upon such Witness 9. Nothing herein limits the substantive rights of Witnesses or other parties

under applicable law to object to or oppose any subpoena the Examiner may serve. 10. This Court shall retain jurisdiction to resolve any disputes arising or related to this

Order including any discovery disputes that may arise between or among the parties and to interpret, implement and enforce the provisions of this Order. 11. In accordance with Bankruptcy Rules 2004 and 9016, the Clerk of this Court

shall issue subpoenas, signed but otherwise in blank, as requested by the Examiner. 12. This Order is without prejudice to the Trustee's right to file further motions seeking

additional documents and testimony pursuant to Bankruptcy Rule 2004(a) or any other applicable law. Dated: February 11, 2009 New York, New York /s/ James M. Peck_____________________ UNITED STATES BANKRUPTCY JUDGE

16254 (Form 254 - Subpoena for Rule 2004 Examination) (I2/03)

UNITED STATES BANKRUPTCY COURT

Southern

District of

New York

In re Lehman Brothers Ho1d1r}gs, Inc., et al., Debtor

SUBPOENA FOR RULE 2004 EXAMINATION Case No."

08-13555lJMP I1 (Jointly Administered)

To:

Korea Development Bank 32nd Floor Mutual of America Life Insurance Bldg. 320 Park Ave., New York, V`. 10022 cot Louis M. Solomon Dechert LLP 1095 Avenue of the Americas New York, NY 10036

Chapter

u YOU ARE COMMANDED to appear and testify at an examination under Rule 2004, Federal Rules of Bankruptcy Procedure, at the place, date, and time specified below. A copy of the court order authorizing the examination is attached.
PLACE OF TESTIMONY DATE AND TIME

YOU ARE COMMANDED to produce and permit inspection and copying of the following documents or objects at the place, date, and time specified below (list documents or objects): See attached rider

PLACE

DATE AND TIME August 7, 2009

Jenner & Block LLP 919 Third Avenue, 37th Floor New York, NY 10022-3908

1SF

ER SIGNATURE

D TITLE

DATE July 28, 2009

ISSUING OFFICER'S NAME, ADORES

D PHONE NUMBER Robert L. Byron Jenner & Block LL

919 ?laird
Iv If the

__

er

13254 (Form 254 Subpoena for Rule 2004 Examination) (12107)

PROOF OF SERVICE
DATE PLAC

SERVED
SERVED ON (PRINT NAME) MANNER OF SERVIC

SERVED DV (PRINT

NAME

TITLE

DECLARATION OF SERVER I declare under penalty of perjury under the laws of the United States of America that the foregoing information contained in the Proof of Service is true and correct. Executed on
DATE

SIGNATURE OF SERVER

ADDRESS OF SERVER

Rule 45, Federal Rules of Civil Procedure, Subdivisions (c), (d), and (e), as amended on December 1, 2007, made applicable in cases under the Bankruptcy Code by Rule 9016, Federal Rules of Bankruptcy Procedure:
(c) Protecting a Person Subject to a Subpoena. (I) Avoiding Undue Burden or Expense; Sanctions. A party or attorney responsible for issuing and serving a subpoena must take reasonable steps to avoid unposing undue burden or espouse on a person subject to the subpoena. The issuing court roust enforce this duty and impose an appropriate sanction --- which may include lost earnings and reasonable attorney 's fees on a patty or attorney who fails to comply. (2) Command to Produce Materials or Permit Inspection, (A) Appearance Not Required. A person commanded to produce documents, electronically stored information, or tangible things, or to permit the inspeetton of premises, need not appear in person at the place of production or inspection unless also commanded to appear for a deposition, nearing, or trial. (13) Objections. A person commanded to produce documents or tangible things or to permit inspection may serve on the party or attorney designated in the subpoena a wr i tten objection to Inspecting, copying, testing or sampling, any or all of the materials or to inspecting the premises or to producing electronically stored information in the form or forms requested. The objection must be served before the earlier of the time specified for compliance or 14 days after the subpoena is served. If an objection le made, the following riles apply: (i) At any time, on notice to the commanded person, the serving party may move the issuing court for an order compelling production or inspection. (ii) These acts tinny be required only as directed in the order, and the order must protect a person who is neither a party nor a party's officer from significant expense resulting front compliance, (3) Quashing or Modifying a Subpoena (A) When Required. On timely motion, the issuing court must quash or modify a subpoena that: (i) fails to allow a reasonable time to comply; (ii) requires a person who is neither a party nor a parry's officer to travel more than 1 00 ogles from where that person resides, is employed, or regularly transacts business in person except that, subject to Rule 45(c)(3)(13)(iii), the person may be commanded to attend a trial by rraveiing from any such place within tine state where the trial is held; (iii) requires disclosure of privileged or other protected matter, if no exception or waiver applies; or (iv) subjects a person to undue burden. (B) When I'e:ntitted. To protect a person subject to or affected by a subpoena, the issuing court may, an motion, quash or modify the subpoena if ;t requires: (i) disclosing a trade secret sr other confidential research, development, or tom:: rerciai information; .,p aion or i ;forma t.n that does (i) disclosing an t. v r fie occurrences in dispute and results suhsro:tet.: e
Emit

(d) Duties in Responding to a Subpoena. (I) Producing Documents or Electronically Stored Information. These procedures apply to producing'jnoumenta or electronically stored information: (A) Documents. A person responding to a subpoena to produce documents must produce them as they are kept in the ordinary course of business or must organize and label them to correspond to the categories in the demand. (13) Form for Producing Electronically Stored lnfortnation Not Specified, if a subpoena does not specify a form for producing electronically stored infoematton, the person responding must produce it in a form or forms in which it is ordinarily maintained or in a reasonably usable form or forms. (C) Electronically Stored Information Produced in Only One Farm. The person responding need not produce the same electronically stored infomtation in more than one form. (D) Inaccessible Electronically Stored Infonnstion. The person responding need not provide discovery of electronically stored information from sources that the person identifies as not reasonably accessible because of undue burden or cost, On motion to compel discovery or for a protective order, the person responding most show that the information is not reasonably accessible because of undue burden or cost. if that showing is made, the court may nonetheless order discovery from stitch sources if the requesting parry shows good cause, considering the limitations of Rule 26(b)(2)(C). The court may specify conditions for the discovery. (2) Claiming Privilege or Protection. (A) Information Withheld. A person withholding subpoenaed inform anon under a claim that it is privileged or subject to protection as trial-preparation material roust: (i) expressly make the claim; and (ii) describe the nature of the withheld documents. cemmunica:rons, or tangible things in a manner that, without revealing information itself privileged or protected, will enable the patties to assess the claim. (8) ltiferrnatien Produced. If information produced in response to a subpoena is subject to a claim of privilege or of protection as trial-preparation materiel, the Iseraon making the claim may notify any party that received the information of the claim and the basis for it. After bring notified, a party most promptly return, sequester, or dealroy the specified tnforntstion and any copies it has; must not use or disclose the information until the claim is resolved; must take reasonable steps to retrieve the information if the party disclosed it before bring notified; anti may promptly present the interaction to the court under seal fora determine on of the claim T .be person who produced she information most preset ve the information not the claim is resolved. 4e) Contempt. g beer. mere, is w tout adequate The issuing court may hold in contempt a ;'re subpoena - art be eie:eare excuse to obey the s r a ' b p o e ra..A nonpa.t s inre , purports to require the nonparty to attend or prod -_e at a place outside tr iirn.ra of Rule 45(c?(3)(A)(it).

the expert's study that was not requested by

(iii) a person who is neither a party nor a party 's officer to incur rinse to travel more than 100 miles to attend trial (C) Specifying Conditions as an Alternative. In the circumstances described in she mm1 may. instead of gtushing or modifying a subpoena, ender eb.t-on emir or _t .,:rag party: ed car rich, tierrs l need for tine tostimem . u It

DOCUMENT RIDER Pursuant to Fed. R. Civ. P. 45, Fed. R. Bankr. P. 2004 and the Court's February 11, 2009 Order ("Oder," attached hereto as Exhibit A), Anton R. Valukas, Esq., the appointed Examiner for Lehman Brothers Holdings, Inc. ("LBHI") and its affiliated debtors ("Debtors"), through counsel, hereby requests that you produce the documents described below for inspection and copying at the offices of Jenner & Block LLP, 919 Third Avenue, New York, NY 10022-3908 on August 7, 2009 at 10:30 a.m. INSTRUCTIONS 1. "Document" should be interpreted as broadly as permitted by the Federal Rules of Civil Procedure and includes all tangible things and electronically stored information. Any terms in these requests should likewise be interpreted as broadly as possible. References to entities should be interpreted broadly to include the named entity and its affiliates, parents, subsidiaries, officers, directors, employees and agents. As directed by the Order, if you withhold any documents from the production based upon a claim of privilege, provide Examiner's counsel with a privilege log containing the information required under Fed. R. Bank. P. 7026 within ten (10) days of service of the foregoing subpoena. REQUESTS Please provide any documents or information concerning the potential acquisition by KDB (either acting alone, or as part of a consortium) of either LBHI, Lehman Brothers Inc. ("LBI") or Neuberger Berman, or any of the assets, divisions, departments, groups, parts or subsidiaries belonging to any of them (the "target entities") including but not limited to: All communications between Korea Development Bank and LBHI, LBI or any other Lehman entity in connection with the potential investment in or acquisition of any of the target entities. 2. All analyses or reports created by or at the request or direction of Korea Development Bank concerning the financial condition or the valuation of any assets and/or liabilities of any of the target entities.

2.

3.

All documents reflecting communications with KDB's regulators regarding KDB's potential investment in or acquisition of the target entities. All communications within KDB or between or among KDB and other consortium members regarding the potential investment in or acquisition of the target entities. All communications between or among KDB and Perella Weinberg or JR Morgan in their roles as strategic advisors to KDB with respect to the potential investment in or acquisition of the target entities.

4.

5.

By:

Is/ Robert L. Byman

Robert L. Byman

JENNER & BLOCK LLP 919 Third Avenue, 37th Floor New York, New York 10022-3908 Telephone: (212) 891-1600 Facsimile: (212) 891-1699 330 North Wabash Avenue Chicago, Illinois 60611-7603 Telephone: (312) 222-9350 Facsimile: (312) 527-0484
Attorneys for the Examiner

EXHIBIT A

1782

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK y In re LEHMAN BROTHERS HOLDINGS INC., et al., Debtors. x ORDER GRANTING EXAMINER'S MOTION DIRECTING THE PRODUCTION OF DOCUMENTS AND AUTHORIZING THE EXAMINATIONS OF THE DEBTORS' CURRENT AND FORMER OFFICERS, DIRECTORS AND EMPLOYEES,ANDOTHERPERSONS AND ENTITIES Upon the Motion of Anton R. Valukas (the "Examiner") for an Order Directing the Production of Documents and Authorizing the Examination of the Debtors' Current and Former Officers, Directors and Employees, and Other Persons and Entities (the "Motion"); and the Court having reviewed the Motion and the exhibits submitted in support; and the Court being satisfied that adequate notice of the Motion has been provided in accordance with the procedures set forth i the order entered September 22, 2008 governing case management and administrative procedures [Docket # 285] (i) to the Court; (ii) counsel for the Debtors; (iii) the U.S. Trustee; (iv) counsel for the Official Committee of Unsecured Creditors; (v) counsel for the Debtors' post-petition lenders; (vi) the Securities and Exchange Committee; (vii) the Internal Revenue Service; (viii) the United States Attorney for the Southern District of New York; (ix) any person with a particularized interest in the subject matter of the Motion; and (x) all parties who have requested notice in these Chapter 11 Cases; and (xi) it appearing that no other or further notice of the Motion need be provided; and after due deliberation and sufficient cause appearing therefor; it is hereby ORDERED Chapter 11 Case No. 08-13555 (JMP) (Jointly Administered)

terms not otherwise defined shall have the meanin

to th ,rim in the Motion .

The Motion is granted. The Examiner is authorized, pursuant to Bankruptcy Rule 2004, to issue such subpoenas as may be necessary to compel the production of documents and the testimony of Witnesses in connection with the Examiner's Investigation. 3. The Examiner shall serve each subpoena and a copy of this Order on the target of

the subpoena, with copy to (i) the Debtor; (ii) the Securities and Exchange Commission; (iii) the Internal Revenue Service; (iii) the SIPA Trustee; and (iv) the United States Attorney for the Southern District of New York. 4. As directed in '11 8 of the Examiner Order, the Examiner shall cooperate fully with

any government agencies including, but not limited to, any Federal, state or local government agency that currently or in the future may be investigating the Debtors, their management or their financial condition, and the Examiner shall use best efforts to coordinate with such agencies in order to avoid unnecessary interference with, or duplication of, any investigations conducted by such agencies. The Examiner will follow a protocol to be established with the governmental agencies for the sharing of infotuiation to the extent that such sharing benefits the Debtors' estates, and such sharing of information shall be subject to appropriate conditions to protect the Debtors' estates. 5. The Examiner shall file with the Court an affidavit or declaration of service

for each subpoena he serves. 6. Unless otherwise agreed to by the Examiner, Witnesses shall have ten (10) days

from the service of a subpoena to either (1) produce to the Examiner all responsive documents requested in the Examiner's subpoena, except as provided in 7 infra; or (2) file with the Bankruptcy Court an objection or response to the subpoena, with a hearing promptly scheduled.

7.

Unless otherwise agreed by the Examiner, if a Witness withholds any documents

from the production based upon a claim of privilege, such Witness is directed to provide counsel for the Examiner with a privilege log, containing the information required under Bankruptcy Rule 7026, within ten (10) days of the service of a subpoena upon the Witnesses. 8. The Witness is directed to submit to oral examination upon reasonable notice and,

absent other agreement with the Examiner, in no event more than fifteen (15) days from the date of service of a deposition subpoena upon such Witness 9. Nothing herein limits the substantive rights of Witnesses or other parties

under applicable law to object to or oppose any subpoena the Examiner may serve. 10. This Court shall retain jurisdiction to resolve any disputes arising or related to this

Order including any discovery disputes that may arise between or among the parties and to interpret, implement and enforce the provisions of this Order. 11. In accordance with Bankruptcy Rules 2004 and 9016, the Clerk of this Court

shall issue subpoenas, signed but otherwise in blank, as requested by the Examiner. 12. This Order is without prejudice to the Trustee's right to file further motions seeking

additional documents and testimony pursuant to Bankruptcy Rule 2004(a) or any other applicable law. Dated: February 11, 2009 New York, New York
is/ James M. Peck

UNITED STATES BANKRUPTCY JUDGE

B254 (Form 254 Subpoena for Rule 2004 Examination) (12/07)

UNITED STATES BANKRUPTCY COURT

Southern

District of

New York

In re Lehman Brothers Holdings, Inc., et al., , Debtor

SUBPOENA FOR RULE 2004 EXAMINATION

Case No.*
08-13555 (JMP)

To:

Lazard Ltd. 30 Rockefeller Place New York, NY 10020

Chapter

11 (Jointly Administered)

G YOU ARE COMMANDED to appear and testify at an examination under Rule 2004, Federal Rules of Bankruptcy Procedure, at the place,
date, and time specified below. A copy of the court order authorizing the examination is attached.
PLACE OF TESTIMONY DATE AND TIME

X G YOU ARE COMMANDED to produce and permit inspection and copying of the following documents or objects at the place, date, and time specified below (list documents or objects):

See attached rider.

PLACE

Jenner & Block LLP 919 Third Avenue, 37th Floor New York, NY 10022-3908

DATE AND TIME

August 20, 2009

ISSUING OFFICER SIGNATURE AND TITLE

DATE

August 10, 2009

ISSUING OFFICERS NAME, ADDRESS, AND PHONE NUMBER

Robert L. Byman Jenner & Block LLP 919 Third Avenue, 37th Floor New York NY 10022-3908

(312) 923-2679

* If the bankruptcy case is pending in a district other than the district in which the subpoena is issued, state the district under the case number.

B254 (Form 254 Subpoena for Rule 2004 Examination) (12/07)

PROOF OF SERVICE
DATE PLACE

SERVED
SERVED ON (PRINT NAME) MANNER OF SERVICE

SERVED BY (PRINT NAME)

TITLE

DECLARATION OF SERVER I declare under penalty of perjury under the laws of the United States of America that the foregoing information contained in the Proof of Service is true and correct. Executed on
DATE SIGNATURE OF SERVER

ADDRESS OF SERVER

Rule 45, Federal Rules of Civil Procedure, Subdivisions (c), (d), and (e), as amended on December 1, 2007, made applicable in cases under the Bankruptcy Code by Rule 9016, Federal Rules of Bankruptcy Procedure:
(c) Protecting a Person Subject to a Subpoena. (1) Avoiding Undue Burden or Expense; Sanctions. A party or attorney responsible for issuing and serving a subpoena must take reasonable steps to avoid imposing undue burden or expense on a person subject to the subpoena. The issuing court must enforce this duty and impose an appropriate sanction which may include lost earnings and reasonable attorney's fees on a party or attorney who fails to comply. (2) Command to Produce Materials or Permit Inspection. (A) Appearance Not Required. A person commanded to produce documents, electronically stored information, or tangible things, or to permit the inspection of premises, need not appear in person at the place of production or inspection unless also commanded to appear for a deposition, hearing, or trial. (B) Objections. A person commanded to produce documents or tangible things or to permit inspection may serve on the party or attorney designated in the subpoena a written objection to inspecting, copying, testing or sampling any or all of the materials or to inspecting the premises or to producing electronically stored information in the form or forms requested. The objection must be served before the earlier of the time specified for compliance or 14 days after the subpoena is served. If an objection is made, the following rules apply: (i) At any time, on notice to the commanded person, the serving party may move the issuing court for an order compelling production or inspection. (ii) These acts may be required only as directed in the order, and the order must protect a person who is neither a party nor a party's officer from significant expense resulting from compliance. (3) Quashing or Modifying a Subpoena. (A) When Required. On timely motion, the issuing court must quash or modify a subpoena that: (i) fails to allow a reasonable time to comply; (ii) requires a person who is neither a party nor a party's officer to travel more than 100 miles from where that person resides, is employed, or regularly transacts business in person except that, subject to Rule 45(c)(3)(B)(iii), the person may be commanded to attend a trial by traveling from any such place within the state where the trial is held; (iii) requires disclosure of privileged or other protected matter, if no exception or waiver applies; or (iv) subjects a person to undue burden. (B) When Permitted. To protect a person subject to or affected by a subpoena, the issuing court may, on motion, quash or modify the subpoena if it requires: (i) disclosing a trade secret or other confidential research, development, or commercial information; (ii) disclosing an unretained expert's opinion or information that does not describe specific occurrences in dispute and results from the expert's study that was not requested by a party; or (iii) a person who is neither a party nor a party's officer to incur substantial expense to travel more than 100 miles to attend trial (C) Specifying Conditions as an Alternative. In the circumstances described in Rule 45(c)(3)(B), the court may, instead of quashing or modifying a subpoena, order appearance or production under specified conditions if the serving party: (i) shows a substantial need for the testimony or material that cannot be otherwise met without undue hardship; and (ii) ensures that the subpoenaed person will be reasonably compensated. (d) Duties in Responding to a Subpoena. (1) Producing Documents or Electronically Stored Information. These procedures apply to producing documents or electronically stored information: (A) Documents. A person responding to a subpoena to produce documents must produce them as they are kept in the ordinary course of business or must organize and label them to correspond to the categories in the demand. (B) Form for Producing Electronically Stored Information Not Specified. If a subpoena does not specify a form for producing electronically stored information, the person responding must produce it in a form or forms in which it is ordinarily maintained or in a reasonably usable form or forms. (C) Electronically Stored Information Produced in Only One Form. The person responding need not produce the same electronically stored information in more than one form. (D) Inaccessible Electronically Stored Information. The person responding need not provide discovery of electronically stored information from sources that the person identifies as not reasonably accessible because of undue burden or cost. On motion to compel discovery or for a protective order, the person responding must show that the information is not reasonably accessible because of undue burden or cost. If that showing is made, the court may nonetheless order discovery from such sources if the requesting party shows good cause, considering the limitations of Rule 26(b)(2)(C). The court may specify conditions for the discovery. (2) Claiming Privilege or Protection. (A) Information Withheld. A person withholding subpoenaed information under a claim that it is privileged or subject to protection as trial-preparation material must: (i) expressly make the claim; and (ii) describe the nature of the withheld documents, communications, or tangible things in a manner that, without revealing information itself privileged or protected, will enable the parties to assess the claim. (B) Information Produced. If information produced in response to a subpoena is subject to a claim of privilege or of protection as trial-preparation material, the person making the claim may notify any party that received the information of the claim and the basis for it. After being notified, a party must promptly return, sequester, or destroy the specified information and any copies it has; must not use or disclose the information until the claim is resolved; must take reasonable steps to retrieve the information if the party disclosed it before being notified; and may promptly present the information to the court under seal for a determination of the claim. The person who produced the information must preserve the information until the claim is resolved. (e) Contempt. The issuing court may hold in contempt a person who, having been served, fails without adequate excuse to obey the subpoena. A nonparty's failure to obey must be excused if the subpoena purports to require the nonparty to attend or produce at a place outside the limits of Rule 45(c)(3)(A)(ii).

 DOCUMENTRIDER PursuanttoFed.R.Civ.P.45,Fed.R.Bankr.P.2004andtheCourtsFebruary11, 2009Order(Oder,attachedheretoasExhibitA),AntonR.Valukas,Esq.,the appointedExaminerforLehmanBrothersHoldings,Inc.(LBHI)anditsaffiliated debtors(Debtors),throughcounsel,herebyrequeststhatyouproducethedocuments describedbelowforinspectionandcopyingattheofficesofJenner&BlockLLP,919 ThirdAvenue,NewYork,NY100223908onAugust20,2009at10:30a.m. INSTRUCTIONS 1. DocumentshouldbeinterpretedasbroadlyaspermittedbytheFederalRules ofCivilProcedureandincludesalltangiblethingsandelectronicallystored information.Anytermsintheserequestsshouldlikewisebeinterpretedas broadlyaspossible.Referencestoentitiesshouldbeinterpretedbroadlyto includethenamedentityanditsaffiliates,parents,subsidiaries,officers, directors,employeesandagents. 2. AsdirectedbytheOrder,ifyouwithholdanydocumentsfromtheproduction baseduponaclaimofprivilege,provideExaminerscounselwithaprivilegelog containingtheinformationrequiredunderFed.R.Bank.P.7026withinten(10) daysofserviceoftheforegoingsubpoena. REQUESTS Please produce documents responsive to the below requests for May 1, 2008 to September30,2008. 1. Please produce documents that concern, discuss, evaluate or analyze potential mergers with, spin offs of, investments in, or acquisitions of any assets, divisions, departments, groups, parts, or subsidiaries of, LBHI or its affiliates by any otherentity. By:/s/RobertL.Byman RobertL.Byman

1786309

JENNER&BLOCKLLP 919ThirdAvenue,37thFloor NewYork,NewYork100223908 Telephone:(212)8911600 Facsimile:(212)8911699 330NorthWabashAvenue Chicago,Illinois606117603 Telephone:(312)2229350 Facsimile:(312)5270484 AttorneysfortheExaminer

2
1786309

EXHIBITA

3
1786309

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ------------------------------------------------------------------------x In re LEHMAN BROTHERS HOLDINGS INC., et al., Debtors. ---------------------------------------------------------------------- x ORDER GRANTING EXAMINER'S MOTION DIRECTING THE PRODUCTION OF DOCUMENTS AND AUTHORIZING THE EXAMINATIONS OF THE DEBTORS' CURRENT AND FORMER OFFICERS, DIRECTORS AND EMPLOYEES, AND OTHER PERSONS AND ENTITIES Upon the Motion of Anton R. Valukas (the "Examiner") for an Order Directing the Production of Documents and Authorizing the Examination of the Debtors' Current and Former Officers, Directors and Employees, and Other Persons and Entities (the "Motion"); and the Court having reviewed the Motion and the exhibits submitted in support; and the Court being satisfied that adequate notice of the Motion has been provided in accordance with the procedures set forth in the order entered September 22, 2008 governing case management and administrative procedures [Docket # 285] (i) to the Court; (ii) counsel for the Debtors;' (iii) the U.S. Trustee; (iv) counsel for the Official Committee of Unsecured Creditors; (v) counsel for the Debtors' postpetition lenders; (vi) the Securities and Exchange Committee; (vii) the Internal Revenue Service; (viii) the United States Attorney for the Southern District of New York; (ix) any person with a particularized interest in the subject matter of the Motion; and (x) all parties who have requested notice in these Chapter 11 Cases; and (xi) it appearing that no other or further notice of the Motion need be provided; and after due deliberation and sufficient cause appearing therefor; it is hereby ORDERED Chapter 11 Case No. 08-13555 (JMP) (Jointly Administered)

' Capitalized terms not otherwise defined shall have the meaning ascribed to them in the Motion.

1. 2.

The Motion is granted. The Examiner is authorized, pursuant to Bankruptcy Rule 2004, to issue such

subpoenas as may be necessary to compel the production of documents and the testimony of Witnesses in connection with the Examiner's Investigation. 3. The Examiner shall serve each subpoena and a copy of this Order on the target of

the subpoena, with copy to (i) the Debtor; (ii) the Securities and Exchange Commission; (iii) the Internal Revenue Service; (iii) the SIPA Trustee; and (iv) the United States Attorney for the Southern District of New York. 4. As directed in 8 of the Examiner Order, the Examiner shall cooperate fully with

any government agencies including, but not limited to, any Federal, state or local government agency that currently or in the future may be investigating the Debtors, their management or their financial condition, and the Examiner shall use best efforts to coordinate with such agencies in order to avoid unnecessary interference with, or duplication of, any investigations conducted by such agencies. The Examiner will follow a protocol to be established with the governmental agencies for the sharing of information to the extent that such sharing benefits the Debtors' estates, and such sharing of information shall be subject to appropriate conditions to protect the Debtors' estates. 5. The Examiner shall file with the Court an affidavit or declaration of service

for each subpoena he serves. 6. Unless otherwise agreed to by the Examiner, Witnesses shall have ten (10) days

from the service of a subpoena to either (1) produce to the Examiner all responsive documents requested in the Examiner's subpoena, except as provided in 7 infra; or (2) file with the Bankruptcy Court an objection or response to the subpoena, with a hearing promptly scheduled.

7.

Unless otherwise agreed by the Examiner, if a Witness withholds any documents

from the production based upon a claim of privilege, such Witness is directed to provide counsel for the Examiner with a privilege log, containing the information required under Bankruptcy Rule 7026, within ten (10) days of the service of a subpoena upon the Witnesses. 8. The Witness is directed to submit to oral examination upon reasonable notice and,

absent other agreement with the Examiner, in no event more than fifteen (15) days from the date of service of a deposition subpoena upon such Witness 9. Nothing herein limits the substantive rights of Witnesses or other parties

under applicable law to object to or oppose any subpoena the Examiner may serve. 10. This Court shall retain jurisdiction to resolve any disputes arising or related to this

Order including any discovery disputes that may arise between or among the parties and to interpret, implement and enforce the provisions of this Order. 11. In accordance with Bankruptcy Rules 2004 and 9016, the Clerk of this Court

shall issue subpoenas, signed but otherwise in blank, as requested by the Examiner. 12. This Order is without prejudice to the Trustee's right to file further motions seeking

additional documents and testimony pursuant to Bankruptcy Rule 2004(a) or any other applicable law. Dated: February 11, 2009 New York, New York /s/ James M. Peck_____________________ UNITED STATES BANKRUPTCY JUDGE

B254 (Form 254 Subpoena for Rule 2004 Examination) (12/07)

UNITED STATES BANKRUPTCY COURT

Southern

District of

New York

In re Lehman Brothers Holdings ,Inc., et al., Debtor

SUBPOENA FOR RULE 2004 EXAMINATION

Case No.*
08-13555

To:

Perella Weinberg Partners LP 767 Fifth Avenue New York, NY 10153

Chapter 11 (jointly administered)

G YOU ARE COMMANDED to appear and testify at an examination under Rule 2004, Federal Rules of Bankruptcy Procedure, at the place,
date, and time specified below. A copy of the court order authorizing the examination is attached.
PLACE OF TESTIMONY DATE AND TIME

x G YOU ARE COMMANDED to produce and permit inspection and copying of the following documents or objects at the place, date, and time specified below (list documents or objects):
See attached rider.

PLACE

Jenner & Block LLP 919 3rd Avenue, 37th Floor New York, NY 10022-3908

DATE AND TIME

August 24, 2009

ISSUING OFFICER SIGNATURE AND TITLE

DATE
August 11, 2009

ISSUING OFFICERS NAME, ADDRESS, AND PHONE NUMBER

Robert L. Byman Jenner & Block LLP 919 Third Avenue, 37th Floor New York NY 10022-3908

(312) 923-2679

* If the bankruptcy case is pending in a district other than the district in which the subpoena is issued, state the district under the case number.

B254 (Form 254 Subpoena for Rule 2004 Examination) (12/07)

PROOF OF SERVICE
DATE PLACE

SERVED
SERVED ON (PRINT NAME) MANNER OF SERVICE

SERVED BY (PRINT NAME)

TITLE

DECLARATION OF SERVER I declare under penalty of perjury under the laws of the United States of America that the foregoing information contained in the Proof of Service is true and correct. Executed on
DATE SIGNATURE OF SERVER

ADDRESS OF SERVER

Rule 45, Federal Rules of Civil Procedure, Subdivisions (c), (d), and (e), as amended on December 1, 2007, made applicable in cases under the Bankruptcy Code by Rule 9016, Federal Rules of Bankruptcy Procedure:
(c) Protecting a Person Subject to a Subpoena. (1) Avoiding Undue Burden or Expense; Sanctions. A party or attorney responsible for issuing and serving a subpoena must take reasonable steps to avoid imposing undue burden or expense on a person subject to the subpoena. The issuing court must enforce this duty and impose an appropriate sanction which may include lost earnings and reasonable attorney's fees on a party or attorney who fails to comply. (2) Command to Produce Materials or Permit Inspection. (A) Appearance Not Required. A person commanded to produce documents, electronically stored information, or tangible things, or to permit the inspection of premises, need not appear in person at the place of production or inspection unless also commanded to appear for a deposition, hearing, or trial. (B) Objections. A person commanded to produce documents or tangible things or to permit inspection may serve on the party or attorney designated in the subpoena a written objection to inspecting, copying, testing or sampling any or all of the materials or to inspecting the premises or to producing electronically stored information in the form or forms requested. The objection must be served before the earlier of the time specified for compliance or 14 days after the subpoena is served. If an objection is made, the following rules apply: (i) At any time, on notice to the commanded person, the serving party may move the issuing court for an order compelling production or inspection. (ii) These acts may be required only as directed in the order, and the order must protect a person who is neither a party nor a party's officer from significant expense resulting from compliance. (3) Quashing or Modifying a Subpoena. (A) When Required. On timely motion, the issuing court must quash or modify a subpoena that: (i) fails to allow a reasonable time to comply; (ii) requires a person who is neither a party nor a party's officer to travel more than 100 miles from where that person resides, is employed, or regularly transacts business in person except that, subject to Rule 45(c)(3)(B)(iii), the person may be commanded to attend a trial by traveling from any such place within the state where the trial is held; (iii) requires disclosure of privileged or other protected matter, if no exception or waiver applies; or (iv) subjects a person to undue burden. (B) When Permitted. To protect a person subject to or affected by a subpoena, the issuing court may, on motion, quash or modify the subpoena if it requires: (i) disclosing a trade secret or other confidential research, development, or commercial information; (ii) disclosing an unretained expert's opinion or information that does not describe specific occurrences in dispute and results from the expert's study that was not requested by a party; or (iii) a person who is neither a party nor a party's officer to incur substantial expense to travel more than 100 miles to attend trial (C) Specifying Conditions as an Alternative. In the circumstances described in Rule 45(c)(3)(B), the court may, instead of quashing or modifying a subpoena, order appearance or production under specified conditions if the serving party: (i) shows a substantial need for the testimony or material that cannot be otherwise met without undue hardship; and (ii) ensures that the subpoenaed person will be reasonably compensated. (d) Duties in Responding to a Subpoena. (1) Producing Documents or Electronically Stored Information. These procedures apply to producing documents or electronically stored information: (A) Documents. A person responding to a subpoena to produce documents must produce them as they are kept in the ordinary course of business or must organize and label them to correspond to the categories in the demand. (B) Form for Producing Electronically Stored Information Not Specified. If a subpoena does not specify a form for producing electronically stored information, the person responding must produce it in a form or forms in which it is ordinarily maintained or in a reasonably usable form or forms. (C) Electronically Stored Information Produced in Only One Form. The person responding need not produce the same electronically stored information in more than one form. (D) Inaccessible Electronically Stored Information. The person responding need not provide discovery of electronically stored information from sources that the person identifies as not reasonably accessible because of undue burden or cost. On motion to compel discovery or for a protective order, the person responding must show that the information is not reasonably accessible because of undue burden or cost. If that showing is made, the court may nonetheless order discovery from such sources if the requesting party shows good cause, considering the limitations of Rule 26(b)(2)(C). The court may specify conditions for the discovery. (2) Claiming Privilege or Protection. (A) Information Withheld. A person withholding subpoenaed information under a claim that it is privileged or subject to protection as trial-preparation material must: (i) expressly make the claim; and (ii) describe the nature of the withheld documents, communications, or tangible things in a manner that, without revealing information itself privileged or protected, will enable the parties to assess the claim. (B) Information Produced. If information produced in response to a subpoena is subject to a claim of privilege or of protection as trial-preparation material, the person making the claim may notify any party that received the information of the claim and the basis for it. After being notified, a party must promptly return, sequester, or destroy the specified information and any copies it has; must not use or disclose the information until the claim is resolved; must take reasonable steps to retrieve the information if the party disclosed it before being notified; and may promptly present the information to the court under seal for a determination of the claim. The person who produced the information must preserve the information until the claim is resolved. (e) Contempt. The issuing court may hold in contempt a person who, having been served, fails without adequate excuse to obey the subpoena. A nonparty's failure to obey must be excused if the subpoena purports to require the nonparty to attend or produce at a place outside the limits of Rule 45(c)(3)(A)(ii).

 DOCUMENTRIDER PursuanttoFed.R.Civ.P.45,Fed.R.Bankr.P.2004andtheCourtsFebruary11, 2009Order(Order,attachedheretoasExhibitA),AntonR.Valukas,Esq.,the appointedExaminerforLehmanBrothersHoldings,Inc.(LBHI)anditsaffiliated debtors(Debtors),throughcounsel,herebyrequeststhatyouproducethedocuments describedbelowforinspectionandcopyingattheofficesofJenner&BlockLLP,919 ThirdAvenue,NewYork,NY100223908onAugust24,2009at10:30a.m. INSTRUCTIONS 1. DocumentshouldbeinterpretedasbroadlyaspermittedbytheFederalRules ofCivilProcedureandincludesalltangiblethingsandelectronicallystored information.Anytermsintheserequestsshouldlikewisebeinterpretedas broadlyaspossible.Referencestoentitiesshouldbeinterpretedbroadlyto includethenamedentityanditsaffiliates,parents,subsidiaries,officers, directors,employeesandagents. 2. AsdirectedbytheOrder,ifyouwithholdanydocumentsfromtheproduction baseduponaclaimofprivilege,provideExaminerscounselwithaprivilegelog containingtheinformationrequiredunderFed.R.Bank.P.7026withinten(10) daysofserviceoftheforegoingsubpoena. REQUESTS Please produce documents responsive to the below requests for May 1, 2008 to September30,2008. 1. Please produce documents that concern, discuss, evaluate or analyze potential mergers with, investments in, or acquisitions of any assets, divisions, departments, groups, parts, or subsidiaried of LBHI or any of its affiliates by Korea DevelopmentBank,HanaFinancialGroup,oranyotherentity. By:/s/RobertL.Byman RobertL.Byman

JENNER&BLOCKLLP 919ThirdAvenue,37thFloor NewYork,NewYork100223908 Telephone:(212)8911600 Facsimile:(212)8911699 330NorthWabashAvenue Chicago,Illinois606117603 Telephone:(312)2229350 Facsimile:(312)5270484 AttorneysfortheExaminer

EXHIBITA

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ------------------------------------------------------------------------x In re LEHMAN BROTHERS HOLDINGS INC., et al., Debtors. ---------------------------------------------------------------------- x ORDER GRANTING EXAMINER'S MOTION DIRECTING THE PRODUCTION OF DOCUMENTS AND AUTHORIZING THE EXAMINATIONS OF THE DEBTORS' CURRENT AND FORMER OFFICERS, DIRECTORS AND EMPLOYEES, AND OTHER PERSONS AND ENTITIES Upon the Motion of Anton R. Valukas (the "Examiner") for an Order Directing the Production of Documents and Authorizing the Examination of the Debtors' Current and Former Officers, Directors and Employees, and Other Persons and Entities (the "Motion"); and the Court having reviewed the Motion and the exhibits submitted in support; and the Court being satisfied that adequate notice of the Motion has been provided in accordance with the procedures set forth in the order entered September 22, 2008 governing case management and administrative procedures [Docket # 285] (i) to the Court; (ii) counsel for the Debtors;' (iii) the U.S. Trustee; (iv) counsel for the Official Committee of Unsecured Creditors; (v) counsel for the Debtors' postpetition lenders; (vi) the Securities and Exchange Committee; (vii) the Internal Revenue Service; (viii) the United States Attorney for the Southern District of New York; (ix) any person with a particularized interest in the subject matter of the Motion; and (x) all parties who have requested notice in these Chapter 11 Cases; and (xi) it appearing that no other or further notice of the Motion need be provided; and after due deliberation and sufficient cause appearing therefor; it is hereby ORDERED Chapter 11 Case No. 08-13555 (JMP) (Jointly Administered)

' Capitalized terms not otherwise defined shall have the meaning ascribed to them in the Motion.

1. 2.

The Motion is granted. The Examiner is authorized, pursuant to Bankruptcy Rule 2004, to issue such

subpoenas as may be necessary to compel the production of documents and the testimony of Witnesses in connection with the Examiner's Investigation. 3. The Examiner shall serve each subpoena and a copy of this Order on the target of

the subpoena, with copy to (i) the Debtor; (ii) the Securities and Exchange Commission; (iii) the Internal Revenue Service; (iii) the SIPA Trustee; and (iv) the United States Attorney for the Southern District of New York. 4. As directed in 8 of the Examiner Order, the Examiner shall cooperate fully with

any government agencies including, but not limited to, any Federal, state or local government agency that currently or in the future may be investigating the Debtors, their management or their financial condition, and the Examiner shall use best efforts to coordinate with such agencies in order to avoid unnecessary interference with, or duplication of, any investigations conducted by such agencies. The Examiner will follow a protocol to be established with the governmental agencies for the sharing of information to the extent that such sharing benefits the Debtors' estates, and such sharing of information shall be subject to appropriate conditions to protect the Debtors' estates. 5. The Examiner shall file with the Court an affidavit or declaration of service

for each subpoena he serves. 6. Unless otherwise agreed to by the Examiner, Witnesses shall have ten (10) days

from the service of a subpoena to either (1) produce to the Examiner all responsive documents requested in the Examiner's subpoena, except as provided in 7 infra; or (2) file with the Bankruptcy Court an objection or response to the subpoena, with a hearing promptly scheduled.

7.

Unless otherwise agreed by the Examiner, if a Witness withholds any documents

from the production based upon a claim of privilege, such Witness is directed to provide counsel for the Examiner with a privilege log, containing the information required under Bankruptcy Rule 7026, within ten (10) days of the service of a subpoena upon the Witnesses. 8. The Witness is directed to submit to oral examination upon reasonable notice and,

absent other agreement with the Examiner, in no event more than fifteen (15) days from the date of service of a deposition subpoena upon such Witness 9. Nothing herein limits the substantive rights of Witnesses or other parties

under applicable law to object to or oppose any subpoena the Examiner may serve. 10. This Court shall retain jurisdiction to resolve any disputes arising or related to this

Order including any discovery disputes that may arise between or among the parties and to interpret, implement and enforce the provisions of this Order. 11. In accordance with Bankruptcy Rules 2004 and 9016, the Clerk of this Court

shall issue subpoenas, signed but otherwise in blank, as requested by the Examiner. 12. This Order is without prejudice to the Trustee's right to file further motions seeking

additional documents and testimony pursuant to Bankruptcy Rule 2004(a) or any other applicable law. Dated: February 11, 2009 New York, New York /s/ James M. Peck_____________________ UNITED STATES BANKRUPTCY JUDGE

B254 (Form 254 Subpoena for Rule 2004 Examination) (12/07)

UNITED STATES BANKRUPTCY COURT

Southern

District of

New York

In re

Lehman Brothers Holdings, Inc., et al. ,

SUBPOENA FOR RULE 2004 EXAMINATION

Case No.*
08-13555 (JMP)

Debtor

To:

Tishman Speyer Rockefeller Center 45 Rockefeller Plaza New York, NY 10111 cc: David Bryan Wachtell, Lipton, Rosen & Katz 51 West 52nd Street New York, New York 10019

Chapter

11 (Jointly Administered)

G YOU ARE COMMANDED to appear and testify at an examination under Rule 2004, Federal Rules of Bankruptcy Procedure, at the place,
date, and time specified below. A copy of the court order authorizing the examination is attached.
PLACE OF TESTIMONY DATE AND TIME

X G YOU ARE COMMANDED to produce and permit inspection and copying of the following documents or objects at the place, date, and

time specified below (list documents or objects):

See attached rider.

PLACE

DATE AND TIME

Jenner & Block LLP 919 Third Avenue 37th Floor New York, NY 10022-3908

August 24, 2009, 10:30 a.m.

ISSUING OFFICER SIGNATURE AND TITLE

DATE

August 13, 2009

ISSUING OFFICERS NAME, ADDRESS, AND PHONE NUMBER

Robert L. Byman Jenner & Block LLP 919 Third Avenue 37th Floor New York, NY 10022-3908

(312) 923-2679

* If the bankruptcy case is pending in a district other than the district in which the subpoena is issued, state the district under the case number.

B254 (Form 254 Subpoena for Rule 2004 Examination) (12/07)

PROOF OF SERVICE
DATE PLACE

SERVED
SERVED ON (PRINT NAME) MANNER OF SERVICE

SERVED BY (PRINT NAME)

TITLE

DECLARATION OF SERVER I declare under penalty of perjury under the laws of the United States of America that the foregoing information contained in the Proof of Service is true and correct. Executed on
DATE SIGNATURE OF SERVER

ADDRESS OF SERVER

Rule 45, Federal Rules of Civil Procedure, Subdivisions (c), (d), and (e), as amended on December 1, 2007, made applicable in cases under the Bankruptcy Code by Rule 9016, Federal Rules of Bankruptcy Procedure:
(c) Protecting a Person Subject to a Subpoena. (1) Avoiding Undue Burden or Expense; Sanctions. A party or attorney responsible for issuing and serving a subpoena must take reasonable steps to avoid imposing undue burden or expense on a person subject to the subpoena. The issuing court must enforce this duty and impose an appropriate sanction which may include lost earnings and reasonable attorney's fees on a party or attorney who fails to comply. (2) Command to Produce Materials or Permit Inspection. (A) Appearance Not Required. A person commanded to produce documents, electronically stored information, or tangible things, or to permit the inspection of premises, need not appear in person at the place of production or inspection unless also commanded to appear for a deposition, hearing, or trial. (B) Objections. A person commanded to produce documents or tangible things or to permit inspection may serve on the party or attorney designated in the subpoena a written objection to inspecting, copying, testing or sampling any or all of the materials or to inspecting the premises or to producing electronically stored information in the form or forms requested. The objection must be served before the earlier of the time specified for compliance or 14 days after the subpoena is served. If an objection is made, the following rules apply: (i) At any time, on notice to the commanded person, the serving party may move the issuing court for an order compelling production or inspection. (ii) These acts may be required only as directed in the order, and the order must protect a person who is neither a party nor a party's officer from significant expense resulting from compliance. (3) Quashing or Modifying a Subpoena. (A) When Required. On timely motion, the issuing court must quash or modify a subpoena that: (i) fails to allow a reasonable time to comply; (ii) requires a person who is neither a party nor a party's officer to travel more than 100 miles from where that person resides, is employed, or regularly transacts business in person except that, subject to Rule 45(c)(3)(B)(iii), the person may be commanded to attend a trial by traveling from any such place within the state where the trial is held; (iii) requires disclosure of privileged or other protected matter, if no exception or waiver applies; or (iv) subjects a person to undue burden. (B) When Permitted. To protect a person subject to or affected by a subpoena, the issuing court may, on motion, quash or modify the subpoena if it requires: (i) disclosing a trade secret or other confidential research, development, or commercial information; (ii) disclosing an unretained expert's opinion or information that does not describe specific occurrences in dispute and results from the expert's study that was not requested by a party; or (iii) a person who is neither a party nor a party's officer to incur substantial expense to travel more than 100 miles to attend trial (C) Specifying Conditions as an Alternative. In the circumstances described in Rule 45(c)(3)(B), the court may, instead of quashing or modifying a subpoena, order appearance or production under specified conditions if the serving party: (i) shows a substantial need for the testimony or material that cannot be otherwise met without undue hardship; and (ii) ensures that the subpoenaed person will be reasonably compensated. (d) Duties in Responding to a Subpoena. (1) Producing Documents or Electronically Stored Information. These procedures apply to producing documents or electronically stored information: (A) Documents. A person responding to a subpoena to produce documents must produce them as they are kept in the ordinary course of business or must organize and label them to correspond to the categories in the demand. (B) Form for Producing Electronically Stored Information Not Specified. If a subpoena does not specify a form for producing electronically stored information, the person responding must produce it in a form or forms in which it is ordinarily maintained or in a reasonably usable form or forms. (C) Electronically Stored Information Produced in Only One Form. The person responding need not produce the same electronically stored information in more than one form. (D) Inaccessible Electronically Stored Information. The person responding need not provide discovery of electronically stored information from sources that the person identifies as not reasonably accessible because of undue burden or cost. On motion to compel discovery or for a protective order, the person responding must show that the information is not reasonably accessible because of undue burden or cost. If that showing is made, the court may nonetheless order discovery from such sources if the requesting party shows good cause, considering the limitations of Rule 26(b)(2)(C). The court may specify conditions for the discovery. (2) Claiming Privilege or Protection. (A) Information Withheld. A person withholding subpoenaed information under a claim that it is privileged or subject to protection as trial-preparation material must: (i) expressly make the claim; and (ii) describe the nature of the withheld documents, communications, or tangible things in a manner that, without revealing information itself privileged or protected, will enable the parties to assess the claim. (B) Information Produced. If information produced in response to a subpoena is subject to a claim of privilege or of protection as trial-preparation material, the person making the claim may notify any party that received the information of the claim and the basis for it. After being notified, a party must promptly return, sequester, or destroy the specified information and any copies it has; must not use or disclose the information until the claim is resolved; must take reasonable steps to retrieve the information if the party disclosed it before being notified; and may promptly present the information to the court under seal for a determination of the claim. The person who produced the information must preserve the information until the claim is resolved. (e) Contempt. The issuing court may hold in contempt a person who, having been served, fails without adequate excuse to obey the subpoena. A nonparty's failure to obey must be excused if the subpoena purports to require the nonparty to attend or produce at a place outside the limits of Rule 45(c)(3)(A)(ii).

DOCUMENT RIDER Pursuant to Fed. R. Civ. P. 45, Fed. R. Bankr. P. 2004 and the Courts February 11, 2009 Order (Order, attached hereto as Exhibit A), Anton R. Valukas, Esq., the appointed Examiner for Lehman Brothers Holdings, Inc. (LBHI) and its affiliated debtors (Debtors), through counsel, hereby requests that you produce the documents described below for inspection and copying at the offices of Jenner & Block LLP, 919 Third Avenue, New York, NY 10022-3908 on August 24, 2009 at 10:30 a.m. INSTRUCTIONS 1. Document should be interpreted as broadly as permitted by the Federal Rules of Civil Procedure and includes all tangible things and electronically stored information. Any terms in these requests should likewise be interpreted as broadly as possible. References to entities should be interpreted broadly to include the named entity and its affiliates, parents, subsidiaries, officers, directors, employees and agents. As directed by the Order, if you withhold any documents from the production based upon a claim of privilege, provide Examiners counsel with a privilege log containing the information required under Fed. R. Bank. P. 7026 within ten (10) days of service of the foregoing subpoena. REQUESTS 1. For the period between January 1, 2007 and October 1, 2008, all documents relating to the risk analysis and valuation of Archstone-Smith Real Estate Investment Trust (Archstone) and/or assets owned or controlled by it, including, but not limited to valuations, analyses, business plans, forecasts, and projections which were performed by you or any third-party, as well as all documents reflecting any decrease in the market value of Archstone and/or assets owned or controlled by it. For the period between January 1, 2006 and October 1, 2008, all documents relating to the formulas, processes, methodologies, and procedures that you or any third-party used in valuing Archstone-Smith Real Estate Investment Trust and/or assets owned or controlled by it.

2.

2.

3.

For the period between January 1, 2006 and October 1, 2008, all documents concerning any agreements between you and any third-parties, including LBHI (and any subsidiaries or affiliates thereof) relating to Archstone-Smith Real Estate Investment Trust, including, but not limited to, term sheets, letters of intent, commitment letters, and contracts. For the period between January 1, 2006 and October 1, 2008, please produce all correspondence, including e-mails, concerning: (1) agreements between you and any third-parties relating to Archstone-Smith Real Estate Investment Trust (Archstone); and (2) risk analysis, liquidity analysis, and valuation of Archstone and/or assets owned or controlled by it. For the period between May 1, 2007 and October 31, 2007, all communications between you (including any of your agents, affiliates, or subsidiaries) and LBHI (including any agents, affiliates, or subsidiaries thereof) relating to: (1) LBHIs right to terminate its transaction to acquire Archstone-Smith Trust; and (2) any discussions concerning altering the terms of the transaction between you and LBHI relating to Archstone-Smith Trust. For the period between May 1, 2007 and October 31, 2007, all internal communications within your company (including communications within, between, or among any of your agents, affiliates, or subsidiaries) relating to: (1) LBHIs right to terminate its transaction to acquire Archstone-Smith Trust; and (2) any discussions concerning altering the terms of the transaction between you and LBHI relating to Archstone-Smith Trust. For the period January 1, 2007 and September 15, 2008, all documents, including emails, regarding or reflecting discussions with LBHI (including any affiliates or subsidiaries thereof) relating to potential transactions between you and LBHI which were considered but never consummated.

4.

5.

6.

7.

8.

For the period January 1, 2006 and October 31, 2007, all documents, including emails, relating to the negotiation with LBHI (including any affiliates or subsidiaries thereof) to purchase or acquire an interest in Archstone-Smith Real Estate Investment Trust and/or assets owned or controlled by it.

By: /s/ Robert L. Byman Robert L. Byman

JENNER & BLOCK LLP 919 Third Avenue, 37th Floor New York, New York 10022-3908 Telephone: (212) 891-1600 Facsimile: (212) 891-1699 330 North Wabash Avenue Chicago, Illinois 60611-7603 Telephone: (312) 222-9350 Facsimile: (312) 527-0484 Attorneys for the Examiner

EXHIBIT A

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ------------------------------------------------------------------------x In re LEHMAN BROTHERS HOLDINGS INC., et al., Debtors. ---------------------------------------------------------------------- x ORDER GRANTING EXAMINER'S MOTION DIRECTING THE PRODUCTION OF DOCUMENTS AND AUTHORIZING THE EXAMINATIONS OF THE DEBTORS' CURRENT AND FORMER OFFICERS, DIRECTORS AND EMPLOYEES, AND OTHER PERSONS AND ENTITIES Upon the Motion of Anton R. Valukas (the "Examiner") for an Order Directing the Production of Documents and Authorizing the Examination of the Debtors' Current and Former Officers, Directors and Employees, and Other Persons and Entities (the "Motion"); and the Court having reviewed the Motion and the exhibits submitted in support; and the Court being satisfied that adequate notice of the Motion has been provided in accordance with the procedures set forth in the order entered September 22, 2008 governing case management and administrative procedures [Docket # 285] (i) to the Court; (ii) counsel for the Debtors;' (iii) the U.S. Trustee; (iv) counsel for the Official Committee of Unsecured Creditors; (v) counsel for the Debtors' postpetition lenders; (vi) the Securities and Exchange Committee; (vii) the Internal Revenue Service; (viii) the United States Attorney for the Southern District of New York; (ix) any person with a particularized interest in the subject matter of the Motion; and (x) all parties who have requested notice in these Chapter 11 Cases; and (xi) it appearing that no other or further notice of the Motion need be provided; and after due deliberation and sufficient cause appearing therefor; it is hereby ORDERED Chapter 11 Case No. 08-13555 (JMP) (Jointly Administered)

' Capitalized terms not otherwise defined shall have the meaning ascribed to them in the Motion.

1. 2.

The Motion is granted. The Examiner is authorized, pursuant to Bankruptcy Rule 2004, to issue such

subpoenas as may be necessary to compel the production of documents and the testimony of Witnesses in connection with the Examiner's Investigation. 3. The Examiner shall serve each subpoena and a copy of this Order on the target of

the subpoena, with copy to (i) the Debtor; (ii) the Securities and Exchange Commission; (iii) the Internal Revenue Service; (iii) the SIPA Trustee; and (iv) the United States Attorney for the Southern District of New York. 4. As directed in 8 of the Examiner Order, the Examiner shall cooperate fully with

any government agencies including, but not limited to, any Federal, state or local government agency that currently or in the future may be investigating the Debtors, their management or their financial condition, and the Examiner shall use best efforts to coordinate with such agencies in order to avoid unnecessary interference with, or duplication of, any investigations conducted by such agencies. The Examiner will follow a protocol to be established with the governmental agencies for the sharing of information to the extent that such sharing benefits the Debtors' estates, and such sharing of information shall be subject to appropriate conditions to protect the Debtors' estates. 5. The Examiner shall file with the Court an affidavit or declaration of service

for each subpoena he serves. 6. Unless otherwise agreed to by the Examiner, Witnesses shall have ten (10) days

from the service of a subpoena to either (1) produce to the Examiner all responsive documents requested in the Examiner's subpoena, except as provided in 7 infra; or (2) file with the Bankruptcy Court an objection or response to the subpoena, with a hearing promptly scheduled.

7.

Unless otherwise agreed by the Examiner, if a Witness withholds any documents

from the production based upon a claim of privilege, such Witness is directed to provide counsel for the Examiner with a privilege log, containing the information required under Bankruptcy Rule 7026, within ten (10) days of the service of a subpoena upon the Witnesses. 8. The Witness is directed to submit to oral examination upon reasonable notice and,

absent other agreement with the Examiner, in no event more than fifteen (15) days from the date of service of a deposition subpoena upon such Witness 9. Nothing herein limits the substantive rights of Witnesses or other parties

under applicable law to object to or oppose any subpoena the Examiner may serve. 10. This Court shall retain jurisdiction to resolve any disputes arising or related to this

Order including any discovery disputes that may arise between or among the parties and to interpret, implement and enforce the provisions of this Order. 11. In accordance with Bankruptcy Rules 2004 and 9016, the Clerk of this Court

shall issue subpoenas, signed but otherwise in blank, as requested by the Examiner. 12. This Order is without prejudice to the Trustee's right to file further motions seeking

additional documents and testimony pursuant to Bankruptcy Rule 2004(a) or any other applicable law. Dated: February 11, 2009 New York, New York /s/ James M. Peck_____________________ UNITED STATES BANKRUPTCY JUDGE

 Exhibit5.5

Robert Byman

Digitally signed by Robert Byman DN: cn=Robert Byman, o, ou, email=rbyman@jenner.com, c=US Date: 2009.04.28 13:12:41 -04'00'

Robert Byman

Digitally signed by Robert Byman DN: cn=Robert Byman, o, ou, email=rbyman@jenner.com, c=US Date: 2009.04.28 17:56:52 -04'00'

APPENDIX6:LEHMANSYSTEMS
Appendix6waspreparedbyDuff&PhelpsandisreferencedinSectionII.Cof the Report. Exhibit 1 details Lehmans systems that the Examiner understands to be maintained by Barclays, and Exhibit 2 details all systems to which the Examiner was grantedordeniedaccess.

Exhibit1 ListofLehmanSystemsandSoftware 1. 1099Etc 29. AffiliatedIssuerTesting 30. AffirmReporting 31. AGEdwardsGIMIIWeb 32. AICashMovement 33. AIMRReturnandComposite Database 34. AIMSMAINFRAMEJOBS 35. AIMSMAINFRAMEJOBS 36. AirTrafficControlOptimizer 37. AirTrafficControlReportsLibrary 38. AirDefense 39. AlertUserInterface 40. ALFIE 41. Alg 42. Alphablox 43. AMB 44. AMBDBSPost 45. AMBSubLedger 46. AMM 47. AMMFlow 48. AMMAExcelTemplate 49. AMS(ADAM) 50. AnalysisServices2005Farm 51. AnalysisServicesFarmRingFenced 52. AnnouncementManager 53. Antivirus(SAV) 54. APB 55. Appia 56. AppiaandTradescope 2

2. FQuarterlyLoad 3. 13FReports 4. 75daypopupwindowon LehmanLiveforPersonalContact Informationverification 5. AAPS 6. ABC 7. ABCDS 8. ABCDSCMBX 9. ABSCMBSModels 10. AccessReviewTool 11. AccountAffirmations 12. AccountInquiry 13. AccountScorecard(EQ) 14. Ace 15. ACL 16. ActiveDirectory 17. Actum 18. ADB 19. AdminSystemforADS 20. AdmiralDocs 21. ADP 22. ADPBroadcastWebService 23. ADPCheckandWireSystems 24. ADPTaxService 25. ADPBridge(*) 26. ADPWilco 27. ADSARTISTDataServices 28. AdvantageDatabaseServer

57. ApplicationPackagingFramework 58. ApprovalEngine 59. AppVault 60. AQITAS 61. Aquracy 62. Archibus 63. ArchibusWebCentral 64. Arcsight 65. Argus(BusinessPortal) 66. ARMS 67. ArrivalforWindows 68. ARSAccounts 69. ARSClientPortal 70. ARSMiddleOfficeDataManagement 71. ARSProductManager 72. ARSReporting 73. ARSWhittakerGarnier 74. ArtSystemGlobal 75. ASA 76. ASAP 77. ASAPMailer 78. ASAPPaymentWorkflow 79. AsiaEquitiesCCAppia 80. AsiaEquitiesCCMETSII 81. AsiaEquitiesCCRADIX/FIXOM 82. AsiaFIDLLAnalytics 83. AsiaRatesAnalytics 84. AsiaSameDayValuation 85. AsianTickDatabases 86. AsiaRisk 87. AspectIVRDatabase 88. AspectUIPCallCenter

89. AspectsARTSISIS 90. Aspire 91. AssentisDocBase 92. AssentisDocRepo 93. AssetCalculationTool(ACT) 94. AssetDefaultTMS3.7 95. AssetMaintenanceTMS3.7 96. AssetManagement 97. AssetSetupWebService 98. AssetAdvisor 99. Astrid 100.ASXGWs 101.Athena 102.AttachmateDST 103.AttributionandCoverageSystem 104.AUReportingDatabase 105.AUReportingETL 106.AUReportingTransactionProcessor 107.AUTransactionDatabase 108.AuditCommentTracking 109.AURQCQuantum 110.AuroraFinalDocsTransmittal System 111.AuroraLTSDatabase 112.AuroraLTSETL 113.AuroraODSDatabase 114.AuroraODSETL 115.AuroraonLehmanLive 116.AuroraReportSupportDatabase 117.AuroraReportingPortal 118.AuroraSCRM 119.AuroraServicingDatabase 120.AuroraServicingETL 3

121.AuroraWebsphere 122.Autexblockdata 123.AutoDoneAwayTrader 124.AutoCad 125.AutoCADLDMS 126.AutomatedCreditEventSystem (ACES) 127.AutomatedPositionMatch 128.AutomatedUnderwriting 129.AutomatedUnderwritingAdmin UI 130.AutomatedUnderwritingCredit ManagementSystemService(AU CMS) 131.AutomatedUnderwritingFull EvaluationService(AUFE) 132.AutomatedUnderwritingPFUI 133.AutomatedUnderwritingPricing Service(AUPricing) 134.AutomatedUnderwritingProduct FinderService(AUPF) 135.AutomatedUnderwritingBusiness RuleManagementSystem 136.AutoQuote 137.Autosys 138.AutosysPortal 139.AWDBIDatamart 140.AWDContact 141.AWDScan 142.AWDViewStation 143.Axon 144.AxysAccountCrossReference 145.AXYSSupport 146.B2London 147.B2Tokyo 4

148.BackIntheBlack 149.BrowserAsynchMessaging(BAM) 150.BankOfItaly(LOFIDBOI002) 151.BankReconciliation 152.Bankingsystems&MARS 153.BankServGFX 154.TRAM_BART 155.BAS 156.BaselineClientNB 157.BatchmarketingUploadusingExcel 158.BusinessContinuityPlanning(BCP) 159.BCRPIMBusinessControl Reporting 160.BDEBO 161.BDEDatabase 162.BDSReporting 163.BEN 164.BENFrontEnd 165.Benefits 166.BESRegulator 167.BESAdvisor 168.Beverages 169.BigFix 170.BillingAdvantageFee 171.BIS 172.BLACKBERRY 173.BlackberryAdministrationTool 174.BlackBerryIntegrationService 175.BloombergAmericas 176.BloombergPOMS 177.BNAFixedAssets 178.BNATaxForms 179.BNATaxPlanner

180.BNCCMDB 181.BNCEmpowerLOS 182.BoardVantage 183.BOJNetFin 184.BondAdministration(RegAB) 185.Bondspreadsandquotes 186.Bondvision 187.BonyInform 188.Bookbuilder 189.BookCourier1.4.1.0 190.BorlandMCD 191.BPMEssbase 192.BPMiProcess 193.BPSA 194.BranchOrderingSystem 195.Brass 196.BrassGateways 197.BreakGlass 198.BridgeStationAmericas 199.BriteSTP 200.BrokerAudit 201.BrokerTec 202.BrowserAsynchMessaging(BAM) 203.BTMUEB 204.Buildforge 205.BusinessContinuityPlanning(BCP) 206.BusinessIntelligence(BusinessObj, Essbase) 207.BusinessObjects 208.BusinessPlan 209.BusinessProcessAnalysis 210.BusinessProcessManagement 211.BusinessServiceGroup(BSG) 5

212.BusinessUnitsLoader 213.BusinessWorks 214.CacheMatrixPortal 215.CADBusinessObjects 216.CalendarCreator 217.Caliber 218.CallanPepforWindows 219.CalyxPoint 220.CAMEO 221.CANE 222.CantoreSpeedEurope 223.CapitalCalculator 224.CapitalIQ 225.CardKeyGenerator 226.CARS 227.Caruso 228.CashAtBanks 229.CashConscious 230.CashManagementSystem(CMS) 231.CashRates 232.CashRecon 233.CATSCore 234.CATSCredit 235.CATSGovernment 236.CATSMoneyMarkets 237.CATSMunicipals 238.CATSNYRates 239.CATSPrimeServices 240.CATSSyndicats 241.CBsiteandresearchAccess 242.CBInsight 243.CBO

244.CBTS&CBS 245.CCTracker 246.CCS 247.CDE 248.CDOAnalytics 249.CDOCentral 250.CDOSentry 251.CdsMatrixPricing 252.CDY 253.CEG 254.CEL 255.CEL(FUTURES) 256.CEP 257.CERTSigning 258.ChangePassword 259.ChaseViews 260.ChaseLinkInsight 261.CheckFreeSecurityAPL 262.Checklist 263.CIA 264.CIAS 265.CiscoCallManager 266.CiscoIOS 267.CiscoIPPhoneDirectory 268.CiscoIPTV 269.CiscoUnity 270.CitiDirect 271.Citrix 272.CitrixEdgesight 273.CitrixGL 274.CitrixUNIX(CTR_UNIX) 275.ClaimsTracking2UK

276.ClaimsTrackingSystem 277.CLASSAPI 278.ClearDeskPolicy 279.ClearTrust 280.Clearvision 281.ClearVisionASIA 282.ClearVisionChicago 283.ClearvisionHongKong 284.ClearvisionUK,LiffeGateway, EuroFinanceGateway,LME Gateway,GSAMDashboard 285.ClientManagementSystem 286.ClientOnboarding 287.ClientSeg 288.ClientTradeReporting 289.ClientLink 290.clientPortfolioLoader 291.CliqBook 292.CLS 293.CMBSSurveillanceCE 294.CMCDocFinder 295.CMDMarketMonitor 296.CMDDataHarvester 297.CMDETRADE 298.CMDFeed 299.CMDKinetix 300.CMOD 301.CMR 302.CMSCreditMarkingService 303.CobraFFT 304.CobraParis 305.CogniviewPDF2XL 306.COGNOS 6

307.CognosBudgeting(ALS) 308.CognosForecastingTool 309.CommBalCommodityBalance Sheet 310.CommissionOverrideException System 311.CommissionSubSystem 312.CommoditiesNewDealReviewtool 313.CommonSupportTool 314.Comnetix 315.COMPASS 316.ComplianceIngestionTool 317.Complinet 318.Composite 319.Concert 320.ConcurrentVersioningSystem 321.ConduitPIF 322.Confirms 323.Confirms(MTS)inCSFDesigner 324.Confirms(TMSNBITS)inCSF Designer 325.Conspo 326.ContactDataHub 327.ContentDeploymentTool 328.ContentManagementforJPPublic site 329.ConvertibleSoftwareandData, LehmanLiveapplications 330.COPS 331.Core 332.CoreEngineeringLab 333.CoreFinancials 334.COREPipeline 335.Core_LDAP 7

336.CorporateActions(CAN) 337.CorporateActionsEmailService 338.CorporateBudgetingCognos 339.CorporateCashReporting 340.CorrectNet 341.COSTTRANSPARENCY 342.Cougar 343.CougarWeb 344.CounterpartyExclusionaryWatch List 345.COVEChartofValueEngine 346.COVEChartofValueEngine 347.CPI 348.CPR 349.CRAWIZ 350.CRDCentralCredit 351.CRDCreditPricingSystem 352.CRDCreditDerivativesAP(CdsAP) 353.CRDCreditLive 354.CRDCreditScope 355.CRDLehmanLiveCredit 356.CRDLoans 357.CreditAnalytics(CRD) 358.CreditAPLondon 359.CreditDerivativesSystem(CDS) 360.CreditLimits 361.CreditQuantStrategy 362.CreditAP 363.CreditAPTokyo 364.CreditCE 365.CreditCE(CE) 366.CreditEx 367.CreditMatch

368.CreditMPE 369.CreditMPESymphonyGrid(Grid) 370.CreditorRelationsDatabase 371.CreditWebPortal 372.CreditWorkstation 373.Creekpath 374.CREST 375.Crest/EuroclearGateways 376.CrestronEcontrolPlugIn 377.CRex 378.CRISP 379.CRM 380.CRMWeb/RMIServices 381.CrossingEngine 382.CrystalEnterprise 383.CrystalEnterpriseFarm 384.CrystalEnterpriseGateway 385.CrystalEnterpriseXMLAPI 386.CrystalReportingInterface 387.CSERecon 388.CST 389.CSVAddin 390.CTA 391.CTAPortal 392.CTAResearch 393.CTI 394.CTIWebSuite 395.CTS 396.CurveBank 397.CUTHBERT 398.CVM 399.CVS

400.CWD 401.D&BSpentAnalysis 402.DailyCommentarySystem 403.DailyCommissionReport 404.DaitoApartmentLoanAssessment 405.DARE 406.DARMA 407.DashboardReporting 408.DataManagementAdministration 409.DatabaseComparison 410.DatabaseEngineering 411.DataCompass 412.Dataport 413.DataQuality 414.DataServices 415.Datatrac 416.DatawatchMonarchPro 417.DataWS 418.DAWN 419.DAWNNY 420.DBTextworks 421.DBToolsonPortal 422.DBSCoreFeed 423.GEACGeneralLedgerCorporate 424.DealCard2 425.DealerRecode 426.DealogicSMP 427.DebtDatabase 428.DefaultModuleSystem 429.Delta1EquitySwapsStrategic System 430.DerivAutomationServices 431.Desks 8

432.DesktopEngineeringTools 433.DevelopmentTools 434.Dfs 435.DHCP 436.DIA 437.DIADataAccessLayer 438.DIAReportingDataStore 439.DialTone 440.DialTone.Net 441.DirectDealerNotificationSystem (DDN) 442.DirectExchangeInfrastructure 443.Director 444.DirectoryGatekeeper 445.Disclosures 446.DMS 447.DMSIC 448.DNSDomainNameSystem 449.DOCCENTRALNYDocumentum 450.DocCorralService 451.DocSpeed 452.Documation 453.DOCCENTRALNYDocumentum 454.DOCVIEW 455.DokTrak 456.Dolfin 457.DomesticProgramTrading(DPT) 458.DoneAwayBookingSystem(DABS) 459.DRA 460.DREAMDocumentum 461.DSQuant 462.DSTAWDArchiver 463.DSTAWDView 9

464.DSTLITERATURE 465.DSTSameDayCash 466.DSTTALogon 467.DTCID 468.DTCOneBox 469.DTCC 470.DuplicateLoanCheck 471.DyalogAPL_MagPerfReports1.0 472.Dynamix 473.DynamixAS 474.DynamixCreditAM 475.DynamixEU 476.eaffirm_manager 477.EagleEncompassEnergySuite 478.EAI 479.eBankerCacheFramework 480.eBankerEssbase 481.eBankerMarketData(EMD) 482.eBankerPremier 483.eBankerBatchProcessing 484.eBankerContactManagement 485.eBankerDataWarehouse 486.eBankereDMS(IDM) 487.eBankerMarketFeeShare 488.eBankerMenuBar(EBM) 489.eBankerPPR(EBK) 490.eBankerReportCenter(EBR) 491.eBankerWebServices(EBS) 492.eBankerWorkspaces(EBX) 493.Eclerx 494.eClient 495.eClientClientSignUp

496.ECMAnalytics 497.EdgarIMetrix 498.EDGE 499.EdifyElectronicWorkforce 500.EDM 501.EES 502.EquityFinanceAccount Management 503.EFCASH 504.EFCOS 505.EFDL 506.EFGPNL 507.EFGWEB 508.EII 509.EIS 510.EIS 511.EISScorecard 512.EISServicesSupportTools 513.EISDataQuality 514.ElectraStaars 515.ElectronicDeliveryEngine 516.ElectronicMasterApprovalForm (EMAF) 517.ELMO 518.ELSIE 519.eLynx 520.EMCAuthenticaIRMClient 521.EMCSmart 522.EMCUtilities 523.EmergencyAssistance(CISCOIP phones) 524.EmployeeAccounts 525.EmployeeTickets

526.Empower 527.EMS 528.EMSEnterprise 529.EMSezDeploy 530.EnCompassEnergySuite 531.EnCompassEnergySuiteInterface 532.EndofDayAllocation 533.EngineeringDashboard 534.EnterpriseAccountManagement 535.EnterpriseAnnouncementData 536.EnterpriseDirectory(LDAP) 537.EnterprisePortalServices 538.EnterprisePriceManagement(EPM) 539.EnterpriseValuationGroupModels, SoftwareandData 540.EntityMaster 541.EntityMaster 542.EntityMaster(ETM) 543.EPIC 544.EnterprisePriceManagement(EPM) 545.EuropeanProgramTrading 546.EQStocksofInterest 547.EQWebsite 548.EQ_COMPASS_US 549.EQM 550.EquitiesBudgetTool 551.EquitiesGameplan 552.EquitiesGlobalOESBrowser 553.EquitiesOES 554.EquitiesSalesPortal 555.EquitiesVotesApplication 556.EquitiesYearEndScorecards 557.EquityCommissionException 10

System(ECES) 558.EquityDerivativesSoftData 559.EquityFinanceAccount Management 560.EquityFinanceGroupUtilitiesfor Prime 561.EquityPLSystem(ASIA) 562.EquityResearchEstimateand AccountinghistoriesBalanceSheets andIncomeStatements 563.EquityResearchEventForm 564.EquityRisk 565.EquityScorecardandBusinessPlan 566.EquityStrategyWebsite 567.EquitySwaps 568.EquitySyndicationandEvent Management 569.ERaP 570.ERaP 571.ERDMToolGlobal 572.eReview 573.ERM(EnterpriseRelationship Manager) 574.ERS 575.eSAP 576.ESMAssetAdvisor 577.ESM 578.ESMPricing 579.ESMProduct 580.ESP2000 581.Essbase 582.EssbaseEVE 583.EssbaseExtensions 584.EstatePlanning 11

585.ETAEurope 586.ETL 587.ETradeAnalytics 588.ETrust 589.eTrustAccessControl 590.EUOES 591.EU_IFM(EuropeanIndex MembershipService) 592.EUCLIDServer 593.EuclidSP 594.EUD_MIXED 595.Eurex 596.EuroABSAnalyticsApplications 597.EuroABSIndex 598.EuroSecuritisedProductsIRExotics DeskApps 599.EuroABSAP 600.EuroABSResearchandTrading Database 601.EuroclearRealTimeReporting 602.Euromonitor 603.EUROMTS(MilanTradingSystem) 604.EuropeanTickDatabases 605.EventRequest 606.EVFEnterpriseValuation Framework 607.Evos 608.ExecutionServicesAnalyticsModels, SoftwareandData 609.ExecutiveCommunications 610.Exo 611.ExpenditureRequestsandER Reporting 612.ExpenseAnalytics

613.ExpenseAnalyticsOLAPReporting 614.ExpenseAnalyticsOperational Reporting 615.Extra 616.EyeonEntry(EOE) 617.FactivaNewsSummary 618.Factset 619.FactsetBatchProgram 620.FactsetBatchSystem 621.FactsetReportConsolidator 622.FailsandClaims 623.FAME 624.FAS133 625.FastTrack 626.FCADBAIS 627.FCADFermat 628.FCI 629.FDR 630.FeeandRebatesReportingTool 631.FeeManagementSystem 632.FeedtoBarnett 633.FES 634.FHAMortgageLimits 635.FHJM/GalaxyCommodities AnalyticsLibraries 636.FIRisk 637.FIALehmanLive 638.FIAPIPE 639.FIATimeSeriesPlotter 640.FIAAnalyticCalculatorServer 641.FIBFIxedIncomeBlotter 642.FIDAnalytics 643.FIDAuctionRateTradingUS 12

644.FIDBlotter 645.FIDCacheManager 646.FIDClientCalendar 647.FIDConfigServer 648.FIDETcredit 649.FIDFeedReconciler 650.FIDGameplan 651.FIDTraderPortal 652.FIDBlotter 653.FidelityAdvisorChannel 654.FidelityMSP 655.FidelityNavigator 656.FidelityPassport 657.Fidessa 658.FIDMuniLongBondInitiativeUS 659.FIDMuniShorttermInitiativeUS 660.FIDMuniStructuredProducts Initiative 661.FidRoadMapLauncher 662.FILEINTIME 663.Filemaker8.0 664.FileMover 665.FINAIMS 666.FinanceDashboard 667.FinanceDataWarehouse 668.FinanceExecDashboard 669.FinanceReportRepository 670.FinanceReportRepositoryESS 671.FinanceReportRepositoryTASC 672.FinanceTraderPortal 673.FinanceAsiasubscription 674.FinDelta1 675.FinesseAmericas

676.Fire 677.Firewalls 678.FirmCRMETS 679.FirmCRMVendorMgmt 680.FIRST 681.FIRST(FUTURES) 682.FixedIncomeClientValuation Framework 683.FixedIncomeMarketMonitors (FMM) 684.FixedIncomeSalesPortal 685.FlowDashboard 686.FMCPages 687.FMSFailsManagementSystem 688.FuturesOptionsandFX 689.FOFXTLM 690.FORECAST 691.ForeclosureLossReserve 692.ForwardCommitments 693.FPS 694.FRA 695.FreedomTracker 696.Frictionless 697.FTGCleanPL 698.FTGCreditDerivativesPriceTesting System 699.FTM 700.FTPLehman.com 701.FTPPGPEncryptedFileTransfer System 702.FundDerivativesTrade ManagementSystem 703.FundLauncher 704.FundYieldTracker 13

705.FundFone 706.FundReports 707.FundsDisbursementSystem 708.FundsDueDiligence 709.FundsRiskManagement 710.FuturesControlTools 711.FuturesJournalRequest 712.FuturesOptionsandFX 713.FXCashUtilities 714.FXCobra 715.FXECNs 716.FXHedgeSystem 717.FXMaria 718.FXSpirit 719.FXTradeBar 720.FX/EMGRAT 721.Fx2BVolFeeder 722.FXEMGOptmodel 723.GALAXYIOIPlatform 724.GALAXYIOIPlatform 725.GamePlan 726.GarbanETCEurope 727.Garm2 728.Gatetimes 729.GBD 730.GCSFilemover 731.GDTS 732.GEACGeneralLedgerCorporate 733.GEACGeneralLedgerMTS 734.GEDS 735.Generalconfigurationsupportfor routers 736.GenericMessagingComponent

737.Geneva 738.GetBuildDeploy 739.GFS 740.GFS_DERIVATIVES 741.GGLI 742.Ghighlights 743.GIC 744.GiftRequestForm 745.GlassLocus 746.GlobalAccounts 747.GlobalCapitalMarketsCRM 748.GlobalCashandCollateral ManagementSystem(GCCM) 749.GDTS 750.GlobalEQOutlookCRM 751.GlobalEQResearchContactList ManagementandIntegratedDialer Application 752.GlobalEquityResearch 753.GlobalEquityStrategyData 754.GlobalGovernmentsAP 755.GlobalHistoryofPublications 756.GlobalLinkGTSS(US) 757.GlobalNFS 758.GlobalOperationalRisk 759.GlobalPasswordResetTool 760.CBO 761.GlobalProducts 762.GlobalRegistration 763.GlobalReportsIntegrationProject 764.Global1 765.GMCProduction 766.GMD 14

767.GOBI 768.SalesStation(SS) 769.GPDGlobalProductDatabase 770.GPSUTILITYSERVERS 771.GQUEST 772.GQuestAS 773.GQUESTEssbase 774.GlobalGRASPAuthoring 775.GRASPDAT 776.GRASPXLA 777.GreatlandARMAuditor 778.GreekMachine 779.GREEN 780.GREGHistoricalDatabase 781.GREGVault 782.Gridly 783.GrowthofBusiness 784.Grtm 785.GSA 786.GSAMDashboard 787.GSS 788.GSSDataWarehouse 789.GSSTradeApp 790.GSS_OLAP 791.GSSR 792.GuestWirelessAccess(Guestnet) 793.Haircut 794.HDAT 795.HedgeBook 796.HedgeFundIQ 797.HelpDesk 798.Hermes

799.HighRiskAssetsApplication 800.HIPS 801.HistoricalRevenue 802.HistoricalTimeSeriesDataon SecuritiesPricingandAnalytics 803.HJMApp 804.HKLDAPTree 805.HLCDesktop 806.HOLTValueSearch 807.HomeDirectories 808.HomeSecurityWebXMLAPI 809.HorizonGlobalTrading 810.HPOV 811.HRAffirmativeAction 812.HRControlReporting 813.HREmployeeNewHire 814.HRePay 815.HReProfile 816.HREquityCompensation 817.HRNYSNonResidentTaxation 818.HROnlineBonus 819.HRPeoplesoftSourceControl (STAT) 820.HRPerformanceManagement 821.HRProductionMaintenance 822.HRSecureTransfers 823.HRSystemsIntegration 824.HRTimeandAttendance(TAS) 825.HRWorkflow 826.HyperionEnterprise 827.HypotheticalGrowthofaDollar 828.IABilling 829.IABillingIntranet 15

830.IBDBlackBerryFormsEngine 831.IBDBlackBerryGreenbook 832.IBDBusinessObjects 833.IBDContactManagement 834.IBDeDMS(DocumentManagement) 835.IBDeReview(ERV) 836.eBankerMarketFeeShare 837.INFORMIXInfrastructure 838.ICVerify 839.ICCOGMACFramework 840.ICEEM 841.ICEIR 842.ICEIRExotics 843.ICEsys 844.IDB 845.IDCRemotePlus 846.iDealConnectivityProduction 847.IDS(IntrusionDetection) 848.IDS(IntrusionDetection) 849.IDSProventiaNIPS 850.IFRsubscription 851.IISEngineeringandSupportIIS Farms 852.IISServicesforWindows 853.IMDCISPortal 854.ARSClientPortal 855.IMDIndiaTestBed 856.IMDIntranet 857.IMDMerchantBankingVenture Capital 858.IMDOATSClient 859.IMDOnlineClientApplicationBatch 860.IMDProductionManagement

Reporting 861.IMDReconciliationTool 862.IMDRevenueAnalysisSystem LNW 863.IMDRisk 864.IMDSATPortal 865.IMD_INDIA_PAG_TechResearch 866.imlive 867.INFIDTradingNSettlement 868.IncidentDashBoard 869.INDEX 870.IndexReporter 871.IndiaFirewall 872.IndiaLDAPTree 873.IndiaCapGainsTaxApp 874.IndicesMaintenance 875.Infinity 876.Infoburst 877.Infopac 878.InformaticaPowerCenter 879.Infovista 880.INGTop10Data 881.INS_OnTrackforTraining 882.InsiderList 883.Insight 884.InSource 885.InstantInterest 886.InstinetAmericas 887.InstitutionalCorporateMarketing Workflow 888.InstitutionalSalesReports 889.IntegratedCrossProduct EnvironmentICE

890.InteractCommerce_Act6.0 891.InternationalResortHomeLending 892.IntersperseManager 893.IntexDealmaker 894.IntexDesktop 895.IntexTreppAutosysdownload 896.IntraNet(INT) 897.InvestorTools 898.IOINet 899.IPC 900.IPlanner 901.IPOAllocation 902.IRMillennium 903.Iris 904.PanasonicIrisScaner 905.IRiseDefinitionCenter 906.IRiseStudio 907.iSecurity 908.ISITCTradeNotification 909.ISOSBus&PersonalTravelTracker 910.ISPIPAddress 911.ISS 912.ISTAR 913.iSwap 914.IT2104.1 915.ITBPAFramework 916.ItemRequestTool(IR) 917.ITGOptimizer 918.ITGPlatform 919.ITS 920.ITS/Sicoargo 921.ITSMAudit

16

922.ITSMServiceandAssetManagement Dashboard 923.Ivan 924.IVRTrades 925.iWatchDMU 926.IwatchTool 927.IWFReportingDatabase 928.IWFReportingETL 929.JARSigning 930.JawsforWindows6.0 931.JDialTone 932.JETSR 933.JGEN 934.JIRA 935.JobRun 936.JobTrack 937.JPMChaseReceivablesEdge 938.JSDSStaticData(Asia) 939.JSDSStaticData(Europe) 940.JVE 941.KDBCapture 942.Keeper 943.Kerberos 944.Keynote 945.KPI 946.LaporteAssetAllocationSystem 947.LarkspurDataMaster 948.LAS 949.LASERS 950.Laura 951.LawBaseCA 952.LawBaseSpecialServicing 953.LawBase_LM 17

954.LBAppInstaller 955.LBBankFinancialReporting 956.LBDeviceFilter 957.LBAMChicagoDashboard 958.LBAMPortia 959.LBAMPortiaReconReports 960.LBAMChicagoIndexSystem 961.LBAMChicagoIntranetReporting 962.LBAMChicagoNightlyProcess 963.LBAMChicagoPricing 964.LBAMFeeManagement 965.LBAMIISOLAP 966.LBAMMathworksMatlab 967.LBAMMathworksMatlabLicense Manager 968.LBAMPOMSGateway 969.LBAMPortiaAIM 970.LBAMReportsWL 971.LBAMTPS 972.LBAMTRACEReporting 973.LBBankPublicWebsite 974.LBCDATieredInterestRate 975.LBJHedgeTool 976.LBSBFPublicWebsite 977.LBSPBO 978.LBSTS 979.Core_LDAP 980.LDAPtoCommunicator 981.LEControlsMEclose 982.LEADS 983.LECReport 984.LegalGuarantees 985.LegalHolds

986.LehmanAllocationProcessor(LAP) 987.LehmanCustomerAllocation Manager(LCAM) 988.LehmanExchange(LX) 989.LehmanManagementService 990.LehmanMarketIntelligence 991.LehmanRCPApplicationContainer 992.LehmanStandardFile 993.Lehman.IMD.PDFService 994.LehmanAM.com 995.LehmanLive 996.LehmanLive(includingPortalCore andUserSignup 997.LehmanLive 998.LehmanliveFramework(LLF) 999.LehmanLiveUsageTracking 1000. LehmanLiveWebService MonitoringApplications 1001. LehmanLive:Telephony 1002. LehmanRetrieve 1003. LehmanRisk 1004. LehmanRiskSummarySystem 1005. LehmanRiskRiskBasedMargin 1006. LeimbergDecoupleCruncher 1007. LeimbergNumberCruncher 1008. LEControlsMECloseProd (LEMAP) 1009. LensApp 1010. LenstarOrderEntry 1011. LEOP(LegalEntityOperating Platform) 1012. LETEurope 1013. LETNY 1014. Letters(GACNCLPPLFDSEOQ) 18

inCSFDesigner 1015. Letters(GACNCLPPLFDSEOQ) inCSFDesigner 1016. LEXICON 1017. LFAWeb 1018. LIAMUS 1019. Libra 1020. LIFE 1021. LIMA 1022. Lineage 1023. LinuxEngineeringServices 1024. LINXAPI 1025. LipperLANA 1026. LiquiditySystem 1027. LiquidNet 1028. ListEditor 1029. LondonMarginSystem(LMS) 1030. LMX/OAT(Asia) 1031. LMX/OAT(Europe) 1032. LMX/OAT(US) 1033. LNS 1034. LoanLocator 1035. LoanWorkbench 1036. LoanBarnService 1037. LoanIQ 1038. LoanIQBatch 1039. LoanQuest 1040. LOB 1041. LoggingWS 1042. LogoLibrary 1043. Lombard 1044. LondonAMM 1045. LondonAMMEndofDayPricing

Snapshot 1046. LondonEnterprisePOINT 1047. LondonMarginSystem(LMS) 1048. LOTS 1049. LowNetWorth 1050. LPMS 1051. LTEC 1052. LVAccountingTool 1053. LVApplication 1054. LVDividends 1055. LVOpsPortal 1056. LVPerfPortal 1057. LVPortal 1058. Macgregor(Merrin)RuleExpert 1059. Macgregor(Merrin)Tickets 1060. MacgregorLMXinterface 1061. MacKichanSoftwareScientific Word 1062. MAGInvestmentStylesAnalytics 1063. Magics 1064. Mainframe 1065. ManagerProfile 1066. MapTradingSalesInterface 1067. MarginInterestandLatePayments 1068. MarketAxess 1069. MARKETAXESSEUROPE 1070. MarketCapitalizationTesting 1071. MarketFeeCalculator 1072. MarketQA 1073. MarketServer(ASIA) 1074. MarketCenter 1075. MARS 1076. MAS 19

1077. MASAsia 1078. MAS200 1079. MASTimekeeper 1080. MAST 1081. MasterServicingDisasterData 1082. MasterServicingEarlyPayoffs 1083. MasterServicingEstimatedLosses 1084. MasterServicingInvestor Reporting 1085. MasterServicingLehmanResearch 1086. MasterServicingLetterAgreement Tracking 1087. MasterServicingLoanNumber Generator 1088. MasterServicingMonthEndData 1089. MasterServicingNPTracker 1090. MasterServicingOperations Analysis 1091. MasterServicingPoolInsurance 1092. MasterServicingSubprimeLosses 1093. MasterServicingVintage 1094. MATISSE 1095. MatterManagementSystem 1096. MAXS 1097. MBSAllocations 1098. MBSFactor 1099. MBSPricing 1100. MBSPricingEngine 1101. MBSSystem(MAX) 1102. MTSDistributedApps 1103. MCAtracker 1104. MCDAutoArchive 1105. MCDCaptureandRecognition System

1106. MCDDatabaseInfrastructure Container 1107. MCDITSPlatform 1108. MCDViewer 1109. MCDViewerDatabase 1110. MCDAURACES 1111. MCDAURELI 1112. MCDAURLBSP 1113. MCDExport 1114. MCDImage2Image 1115. McLagan 1116. MCPRAdministrator 1117. MCPRDataServices 1118. MCPRProcessingBroker 1119. MCPRXMLDATAFEEDS 1120. MCR 1121. MCRSiebelService 1122. MeetingAudit 1123. MercuryDashboard 1124. MercuryDashboard 1125. MercuryPerformanceCenter 1126. MercuryQualityCenter 1127. MergerMarket 1128. Merrin 1129. MerrinP2kInterface 1130. MerrinPositionEdit 1131. MerrinSystemMaintenance 1132. MerrinTradeReporting 1133. MESSAGINGCOMPLIANCE 1134. MESSAGINGSUPPORT 1135. Messaging_MCD 1136. MFCLOriginationPlatform 1137. MicroInk 20

1138. Midas 1139. MIDASTSPProxy 1140. Midas2andEQMidas 1141. MindAlign 1142. MizuhoEB 1143. ModelPortfolioImplementation forAssetAllocation 1144. MOM 1145. Monoid 1146. MonthlyStatements 1147. MorganStanleyPassport 1148. MorningstarDirect 1149. MorningstarPrincipiaPro 1150. MortgageAnalyticsLehmanLive 1151. MortgageCalculator 1152. MOXY 1153. MPT 1154. MQSeriesDistributed 1155. MSAnalysis 1156. MSBudgetReport 1157. MSClaimProcessing 1158. MSDevelopmentPrototype Database 1159. MSOriginations 1160. MSPostedRemittance 1161. MSServicerReportCard 1162. MSServicerReporting 1163. MSServicerTrailing 1164. MSUsers 1165. MSA 1166. MSPortfolio 1167. MSSQLInfrastucture 1168. MSSQLInfrastucture

1169. MtgIndex 1170. MTS 1171. MTSDistributedApps 1172. MultipleApplicationsfor CorporateMarketing(MicroInk, MSSR,Factiva,) 1173. MuniSuiteMuniDeriv 1174. MunicipalPortal 1175. Murex 1176. MutualFundandInstitutional ContainerdB 1177. MutualFundandPartnership System 1178. MutualFundCrossTradeSystem 1179. MutualFundDailyStats 1180. MutualFundDecileReport 1181. MutualFundMetrics 1182. MutualFundsCodesSheet 1183. MutualFundsDailyStatsAdmin 1184. MyAuroraLoan 1185. MyConfirms 1186. MyContent/MyDocuments/ EnterpriseCalendaring/Survey Service 1187. MyPage 1188. MyReports 1189. NameSpaceManager 1190. NationwideDataFeed 1191. NBBackOffice 1192. NBBatchEntryMaintenance 1193. NBBlueScreenReports 1194. NBClassAction 1195. NBClientSignup 1196. NBClientSignup 21

1197. NBCommissionInterface 1198. NBCompliance 1199. NBMoneyMarketSweep 1200. NBMonitor 1201. NBOFACIncomingWireInterface 1202. NBRealtimeJournalsOutgoing 1203. NBResearch 1204. NBStatementsViewer 1205. NBTibcoBPSAInterface 1206. NBTibcoTradeInterfaceNBCS 1207. NBTibcoTradeInterfacePAM 1208. NBTibcoTradeInterfacePB 1209. NBTradePathIncoming 1210. NBUBPStockLoan 1211. NB.Com 1212. NBBOtoFIFEInterface 1213. NBBOtoITEInterface 1214. NBCSExtranet 1215. NBCSGateway 1216. NBCSPrism2000P2K 1217. NDR 1218. NetGuard 1219. NettingUS 1220. NetworkManagement 1221. NetworkManagementDatabase 1222. NetworkOpsware 1223. NeubergerBermanImpact 1224. NeubergerBermanStatements 1225. NewDealReview 1226. NewEmployeeOnBoarding 1227. NewHirewebsite 1228. NewRiver

1229. NewhireWebsite 1230. NewsWatchAmericas 1231. nMarketApplicationServer 1232. NRTDMDM 1233. NTP 1234. NXTCommunicator 1235. NY 1236. OASYSNBPension 1237. OAT 1238. OBI 1239. OBI 1240. OCR 1241. OES 1242. OESAsia 1243. OFACOutgoingWiresInterface 1244. OfficeoftheChairman 1245. OLAP 1246. onDemand 1247. OnlineBonusSystem 1248. OnNetIPVideo 1249. OnsetMetaMessage 1250. ONTRACKFORTRAINING 1251. OPAL 1252. OpenBook 1253. OperationsDashboardforLBNB StatementsProcessing 1254. OpsDashboard 1255. OpsDashboard 1256. OpsStations 1257. Opsware 1258. OpswareNetworkAutomation System 1259. OptionalDividends 22

1260. OptionalDividendsSystems 1261. OptionPricing 1262. OptmodelSystem 1263. OPUS32Client 1264. Oracle 1265. OracleBI 1266. Orion 1267. OTGClientLink 1268. OTGFDS 1269. OTGGMC(Mint) 1270. OTGGSSR/SSR 1271. OTGNettingEngine(Asia) 1272. OTGNettingEngine(Europe) 1273. OTGRegulatory 1274. OTGSTPGateway 1275. OTGWebServices(OWS) 1276. OutlookToolbar 1277. OUTSIDEAFFILIATIONS 1278. OutsideBusinessInterests 1279. OvertheWall 1280. P13 1281. P2KBlotterWatcher 1282. P2KMonitor 1283. PAG 1284. PAGITDevelopmentResources 1285. PAGNotificationSystem 1286. PALS 1287. PAMAccountAccess 1288. PAMDirectory 1289. PAMDirectoryAdministration Tool 1290. PAMDocSPEED 1291. PanasonicIrisScaner

1292. PanelOne 1293. Panorama(PNA) 1294. Pathfinder 1295. PayBreeze 1296. PayoutSystem 1297. PayrollSolutions 1298. PBDocs 1299. PCLink32 1300. PCMAP 1301. PCR 1302. PrimeClientReporting 1303. PCRS 1304. PCSCRM(PCC) 1305. PDFGenerator 1306. PEINVESTMENTDATABASE 1307. PeopleFinder 1308. Peoplesoft 1309. PeoplesoftFAS123r 1310. PeoplesoftFinancials 1311. PeopleSoftG/L 1312. PeoplesoftHR 1313. PeoplesoftOnboarding 1314. PeoplesoftPayroll 1315. PeopleSoftR2R 1316. PeoplesoftR2RStat 1317. PerTracFID 1318. PerTracIMD 1319. PFPCCMSImage 1320. PFWApplication 1321. PharmaPipelines 1322. Phoenix 1323. PhoenixTradingClient

1324. Picasso 1325. PIMAUMPortal 1326. PIMAUMReporting 1327. PIMBloombergPOMS 1328. PIMDashboard 1329. PIMFATEFeeAutomationand TrackingEngine 1330. PIMOnlineClientReporting 1331. PIMPOMSGateway 1332. PIMProspecting 1333. PIMReportPublisher 1334. PipeLineAsia 1335. PitneyBowes 1336. PIZZA(GFC) 1337. PlanetRetail 1338. Platinum 1339. PLATO 1340. PMA 1341. PMAPS 1342. PMR(PortfolioManagement System) 1343. PMR(PortfolioManagement System) 1344. PMRAdventDataExchange 1345. PMRCashManagement 1346. PMRCommissions 1347. PMRForms 1348. PMRInputScreens 1349. PMRPerformanceEngine 1350. PMRReOrgProcessor 1351. PmrMaint 1352. PNS 1353. PocketP2K

23

1354. POINT 1355. POINTCI 1356. POINTFIDAP 1357. Pointsec 1358. PortfolioAnalysisWebService 1359. PortfolioCompliance 1360. PortfolioResourcesPrismTrading 1361. PortfolioResourcesMutualFunds Blotter 1362. PortfolioResourcesP2K 1363. PortfolioResourcesPortfolio Analysis 1364. PortfolioWebBench 1365. PortfolioRisk 1366. Portware 1367. PowerSeller 1368. PowerTools 1369. PowerExchange 1370. PRAdminRpts 1371. PremierEventTicketSystem 1372. PremiumResearch 1373. PresBuilder 1374. PresBuilder/PresLink 1375. PRIMe 1376. PrimeBrokerMainframe 1377. PrimeClientReporting 1378. PrimePortal 1379. PrimeRiskMetrics 1380. PrimeServicesMetrics 1381. PrimeServicesSalesPortal 1382. PrimeTransactionManager(PTM) 1383. PrimeDB 1384. PrimeQuantWeb 24

1385. Primeweb 1386. PRInstitutional 1387. PrintServers 1388. Prism2000Admin 1389. PrismRedirector 1390. PrivateEquityBPE 1391. PrivateEquityCapitalAnalytics Website 1392. PrivateEquityCARL(CRL) 1393. PrivateEquityCINVAACS 1394. PrivateEquityCMS(EBP) 1395. PrivateEquityCORE 1396. PrivateEquityGLLink 1397. PrivateEquityInvestran 1398. PrivateEquityLBPEWebsite 1399. PrivateEquityMAS500 1400. PrivateEquityPACE 1401. PrivateEquityPETE 1402. PrivateEquityPortfolioAnalytics PAS 1403. PrivateEquitywsRoleManager 1404. PRMerrin 1405. PRMI 1406. ProClarity 1407. PROCLARITY/PerformancePoint 1408. ProspectiveInvestorProfiling (PIP) 1409. ProSystemFXOffice 1410. Prowatch 1411. PRPortfolioResources 1412. PRTradingRpts 1413. PrudentialCalculator 1414. PSProductService

1415. PSAWebData 1416. PublicSitewww.lehman.com 1417. PUMA(Equities) 1418. PUMA(Equities) 1419. WindowsServerPXE 1420. QEDEquityDerivativeAnalytics 1421. QEDFlow 1422. QIP 1423. QIPDHCPLockdown 1424. QMT(QueryManagementTool) 1425. QPMTCR 1426. QPMTCRDataLoadServices 1427. QSS_UI 1428. QuadrantCDPCCapitalModel 1429. QualsDatabase 1430. Quant 1431. QuantDatabaseServer 1432. QueryWS 1433. QuickDial 1434. QuickBooks 1435. Quicken 1436. QuoteVision 1437. RAMP 1438. CLSContinuousLinkSettlement 1439. RapidUpdateProcedure 1440. RapidUpdateProcedure 1441. Raptor 1442. RAS 1443. RAT 1444. RATES/SubprimeModels 1445. RDS 1446. ReadyPlus

1447. RealTick 1448. ReceivingExternalEmail 1449. RecLite 1450. Recruitmax 1451. RegulatoryDatabasesforGCS 1452. RegulatoryReportTracking 1453. Rekon 1454. Remedy 1455. ReorgResponse 1456. Repliweb 1457. ReportEngine 1458. REPORTINGSERVICES 1459. Repurchase 1460. ReqStatus 1461. ResearchAddins 1462. ResearchAnalystPortal 1463. ResearchAnalystPortal(RAP) 1464. ResearchTradingIdeasEquities UK 1465. ReutersDealingAmericas 1466. ReutersPlusAmericas 1467. ReutersTriarchAmericas 1468. ReutersContribution(Rocky) 1469. RIPPSAdmin 1470. RIPPSv1 1471. RISC 1472. RISCDistributedApplications 1473. RISCGlobal 1474. RISCRanTask 1475. RISCBatch 1476. RISCRANMargin 1477. RISCRANMargin 1478. RiskEngineAsia 25

1479. GRASPRIXMLPackager 1480. RND 1481. RosettaServerApplication 1482. RosettaServerApplication 1483. RoyalBlue_Europe 1484. RRs 1485. RSAACE 1486. RSASecureID 1487. RSAToken 1488. RTA 1489. ADS 1490. RTA 1491. RTD2 1492. RVALAnalyticsCalculator 1493. SAEmailReview2 1494. SalesContactManagement 1495. SalesEntitlementTool 1496. SalesTradingIdeas 1497. SalesTradingIdeas(US) 1498. SalesComp 1499. SalesLogix 1500. SalesStation(SS) 1501. SalesVision 1502. SalomonBrothersYieldbook 1503. SAM 1504. Remedy 1505. SambaService 1506. SASEntrepriseGuide4.1 1507. SatoriSpreadsheet 1508. SBGeoTrader 1509. SBFAccountingCommissions 1510. SBFACES

1511. SBFBDOMonthEndReport 1512. SBFCAM 1513. SBFCompliance 1514. SBFFIdelityDirector 1515. SBFHarlandFinancialLaserPro 1516. SBFInsurance 1517. SBFItemsNeeded 1518. SBFMSAccess 1519. SBO2000 1520. SBO64 1521. SBODSS 1522. SCAMP 1523. SCATSalesCreditAdjustment Tool 1524. ScenarioManager 1525. ScheduleA 1526. SCORE 1527. SCS 1528. SCSBillingAdjuster 1529. SCSFutures 1530. SCSMainframe 1531. SCSSmartTicket 1532. SCSSmartticketAdminWebSite 1533. SCTElectronicBlotter(ASIA) 1534. Seabreeze 1535. SeamlessWeb 1536. SECAM 1537. SectorDatabase 1538. SecureFileUpload 1539. SecurIDauthentication 1540. SecurityIncidentDashboard 1541. Sensage 1542. Sequent 26

1543. ServiceNavigator 1544. ServicerBalancingWeb Application 1545. SettlementObligations 1546. SGrid 1547. SGTrust_AccountIP 1548. SGTrust_Announcements 1549. SGTrust_JournalSecMovement 1550. SGTrust_MBSFactors 1551. SGTrust_Pricing 1552. SGTrust_Recons 1553. SGTrust_SecuritySetUp 1554. SharedDrives 1555. Sharepoint 1556. ShortCutURLService 1557. ShortsLocateRiskMgt 1558. SIDSecurityIncidentDatabase 1559. Siebel 1560. SiebelDocumentGenerator 1561. SiebelFCCapital 1562. SiebelNAOForm 1563. SiebelPrismInterface 1564. SiebelProjectUpload 1565. SiebelTraining 1566. SiemensApogeeInsight 1567. SignatoriesDatabase 1568. SimCorpDimension 1569. SimCorpDimensionConfirmation Matching 1570. SimCorpDimensionCorporate ActionFeed 1571. SimCorpDimensionSTP 1572. SingleSecurityEnvironment

1573. SingleSignOnTechnologies 1574. SiteScope 1575. SmallSTeP 1576. SmartClear 1577. SmartTicket 1578. SmartTraxMargin 1579. SmartClear 1580. SmartConnect 1581. SmartConnectSupportServices 1582. SmartFlow1 1583. SmartFlow2 1584. SmartLink 1585. SmartStreamAllocations 1586. SmartticketLehmanLiveWeb Application 1587. SMBCWeb21 1588. SNLFinancials 1589. SnM 1590. SOBA 1591. SettlementObligations 1592. SociallyResponsiveInvesting Reporting 1593. SolutionBuilder 1594. SovereignRisk 1595. SOXCompletenessControls 1596. SPAAnalyticsLibrary 1597. SpamFiltering 1598. SPARTAN 1599. SPEAR 1600. Spectrum 1601. SPEED 1602. SpeedACH 1603. SPEEDFuturesDMA 27

1604. SpiderwebRisk 1605. SPIRE 1606. SportsandTheatreTickets 1607. LehmanExchange(LX) 1608. SQLServerAnalysisServices2005 Farms(OLAP) 1609. TAPASSSE 1610. SSR 1611. SSTSHORTSALESTRACKING 1612. Staffware 1613. STARFID 1614. STARS 1615. Statements(MTS)inCSFDesigner 1616. StatementsDataPreparation 1617. Statements(MTS)inCSFDesigner 1618. StateStreet 1619. Statpro 1620. STFSuperformTaxform 1621. StockLoanSubLedger 1622. STOMP 1623. STOMP 1624. STOMP(FUTURES) 1625. STORM 1626. STPGateway 1627. StrategicInsightVariable Annuities 1628. StructuredNotesTicker 1629. Subledger 1630. SubM 1631. Subversion 1632. Summit 1633. SunGardAddvantage 1634. SunGardAddVantageDR 28

1635. SuperCEL 1636. SVN 1637. SwapMarketMonitor 1638. SwapsLive 1639. SwapStation2000 1640. SwapsWire 1641. SwiftAlliance 1642. SWIMSwapIntermediation System 1643. Switches 1644. Sybase 1645. SybaseReplicationIDServer 1646. SymantecAV 1647. Symphony 1648. Sync2service 1649. SyndicateNotificationand Allocation 1650. SyndicatePublications 1651. SyndTrak 1652. Syntran 1653. SysAdmiral 1654. T&EAnalyzer 1655. T&ECrystalReports 1656. TA2000Desktop 1657. TAC 1658. TACVortex 1659. TAF 1660. TandbergManagementSuite 1661. TechnologyAdministrativePortal (TAP) 1662. TAP(TermsheetsAutomation Project) 1663. TAPASPlatform 1664. TAPASSSE

1665. TAS 1666. FinanceReportRepositoryTASC 1667. TaxPartnershipTrackingSystem 1668. TaxInterest 1669. TaxAnalystsPracticalDrafting 1670. TAXBRIDGE 1671. TCS 1672. TDMSEnterprise 1673. TDMSEnterprise 1674. TechnologyAdministrativePortal (TAP) 1675. Tell 1676. TellPagingInterface 1677. TermsheetsAutomationProject (TAP) 1678. Texpool 1679. ThomsonFinancialTowerData Hypo 1680. ThomsonOneAmericas 1681. Thunderhead 1682. TibMonitoringService 1683. TibcoRV 1684. TibcoSequent2CPIInterface 1685. TickData 1686. HRTimeandAttendance(TAS) 1687. Timelines 1688. Timesten 1689. TIPBRecon 1690. TKFXHome 1691. TLM 1692. TMGreports 1693. TMO 1694. TMOExplorer

1695. TMS 1696. TMSLite 1697. Tocket 1698. Tocket 1699. TocketPC 1700. TocketNugget 1701. TotalAccessControl(TAC) 1702. TPABilling 1703. TPXSOL 1704. Tracker 1705. TrackerTimesheets 1706. Tractor 1707. TradeEventBus 1708. TradeRT 1709. TradeApp 1710. TradeApp.NET 1711. TradeawayForm 1712. TradeGauge 1713. TradePath 1714. Tradepipe 1715. TraderPortal 1716. TradeServer 1717. Tradeware 1718. Tradeweb 1719. TradeWebEurope 1720. TRAM_BART 1721. TransitionManagementSystem 1722. TravelTrax 1723. TRAX 1724. TRC 1725. TRCCurrentRelease 1726. TRCNewRelease

29

1727. TreasuryDocumentRepository 1728. TreasuryWorkstation 1729. TreasuryWorkstationTK(ASIA) 1730. TreasuryWorkstationEurope 1731. TreasuryWorkstationGateway 1732. TriTrade 1733. Trooper 1734. TSP 1735. TTTradingTechnologies 1736. Twiki 1737. TwistedPair\Wave 1738. TWSGateway 1739. UBSGIM2 1740. UCF 1741. UDB 1742. UDBServerFarm 1743. UEMWS 1744. UnifiedGRASPGlobalWorkflow 1745. UnixBuildService 1746. UnwindBook 1747. UploadfromBCDEVONto LehmansMARIA 1748. UPM 1749. UPSOnline(UPS) 1750. USJMSFarmService 1751. USbasedFIXEngine 1752. ValEngine 1753. Vault 1754. VCAS 1755. VendorScreening 1756. Vertigo 1757. VertigoTokyoApplication 1758. VestekDatabase 30

1759. VFBondCurveServer 1760. VideoConferenceGatekeeper 1761. ViewDirect 1762. Viper 1763. Vision 1764. VistaEssbase 1765. VMware 1766. VMWAREEng 1767. VMwareVirtualCenterAM 1768. VoipDomain 1769. Volbroker 1770. Vontu 1771. Vortex 1772. VPN 1773. VVAExtra100 1774. VVACMTA 1775. WallStreetOffice 1776. WAMMacroFCCP 1777. WAMMacroGlobalBonds 1778. WAMMacroMenu 1779. WAMMacroOperations 1780. WAMOFX 1781. WarehouseLending 1782. WebServiceMonitoring 1783. WebBench 1784. WebCCNet 1785. Websense 1786. Webtrends 1787. WholeLoanDataWarehouse 1788. WholeLoanTracking(WLT) 1789. WhoRU 1790. WindowsServerEngineering LBSC

1791. WindowsServerEngineering LBSC 1792. WindowsServerPXE 1793. WinfitsOptions 1794. WireConfirmationUtility 1795. WireManagementSystem2 1796. WirelessCRM 1797. WMRAIOperationalTools 1798. WMRAISubsystemApplication 1799. WMRCentralDistribution 1800. WMRClientConfigurationTools 1801. WMRCRSubsystem 1802. WMRCRCSubsystem 1803. WMRDCOPSTools 1804. WMRDCSubsystem 1805. WMRInvestmentCatalog 1806. WMROpsTools 1807. WMRPerformanceOperation Tools 1808. WMRPRSubsystem 1809. Wonda 1810. WordenTeleChart 1811. Workflow 1812. WORLDRECORDS 1813. www.alservices.com 1814. xml2pdfWebService 1815. YieldEnhancementSystem 1816. Yolus 1817. YTM(YieldtoMaturity)Recon 1818. ZephyrAssociates_StyleAdvisor NB6.6 1819. ZIPINFO_PerfectAddress

31

EXHIBIT2 ListofSystemsAccessRequested

System 1. LoanIQ 2. RAMP 3. ViewDirect 4. WholeLoanDataWarehouse 5. WholeLoanTracking 6. WorldRecords 7. ADP 8. CashAtBanks 9. MTS 10. DBSCoreFeed 11. HyperionEnterprise 12. VistaEssbase 13. TMS 14. STOMP 15. RTA 16. RISCBatch 17. COREPipeline 18. CDS(CreditDerivativesSystem) 19. CreditWorkstation 20. TradeRT 21. CMBSSurveillance 22. CreditMPE 23. GEDS 24. Infinity 25. PortfolioRisk 26. APB 27. GCCM 28. TreasuryWorkstation 29. GFS 30. HyperionFinancialReports 31. DMS 32. PIMDashboard 33. Murex 34. AXYSSupport

DateRequested 06/01/09 06/01/09 06/01/09 06/01/09 06/01/09 06/01/09 06/01/09 06/01/09 05/19/09 05/19/09 05/19/09 05/20/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 06/04/09 05/26/09 05/27/09 05/27/09 06/03/09 06/01/09 06/05/09 06/05/09 06/05/09 06/10/09 32

DateApproved 06/02/09 06/02/09 06/02/09 06/02/09 06/02/09 06/02/09 06/02/09 06/02/09 06/02/09 06/02/09 06/02/09 06/02/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/08/09 06/08/09 06/08/09 06/08/09 06/10/09 06/15/09 06/15/09 06/15/09 06/18/09

35. ASAP 36. InSource 37. PCMAP 38. InsiderList 39. CreditorRelationsDatabase 40. JVE 41. ESMPricing 42. CDOAnalytics 43. CDOCentral 44. NetworkManagementDatabase 45. CSERecon 46. RISCGlobal 47. CAMEO 48. BNAFixedAssets 49. eBankereDMS 50. SmartTicket 51. PeopleSoftHR 52. LehmanLive 53. Haircut 54. LoanWorkbench 55. SmartStream 56. EntityMaster 57. BusinessObjects 58. HROnlineBonus 59. HRPerformanceManagement 60. MPEAnalyzer 61. CATSCore 62. LEMAP 63. CMOD 64. FinanceReportRepository 65. GlobalAccounts 66. MyConfirms 67. Dynamix 68. FIBFixedIncomeBlotter 69. PALS 70. RAT 71. GREEN 72. Summit 73. HJM 74. Delta1

06/10/09 06/11/09 06/19/09 06/05/09 06/19/09 06/19/09 06/19/09 06/18/09 06/18/09 06/03/09 06/04/09 06/05/09 06/05/09 06/11/09 06/09/09 06/30/09 05/29/09 06/12/09 07/09/09 07/10/09 07/07/09 07/22/09 07/01/09 06/05/09 06/05/09 07/21/09 07/24/09 08/04/09 08/06/09 08/05/09 07/30/09 08/05/09 08/07/09 08/07/09 08/07/09 08/10/09 08/10/09 08/10/09 08/10/09 08/18/09 33

06/18/09 06/23/09 06/24/09 06/24/09 06/25/09 06/25/09 06/25/09 06/25/09 06/25/09 06/25/09 06/25/09 06/25/09 06/25/09 06/25/09 07/02/09 07/07/09 07/07/09 07/08/09 07/13/09 07/24/09 07/24/09 07/28/09 07/28/09 07/30/09 07/30/09 07/31/09 07/31/09 08/07/09 08/10/09 08/10/09 08/10/09 08/10/09 08/10/09 08/18/09 08/18/09 08/24/09 08/24/09 08/24/09 08/24/09 08/25/09

75. GQuest 76. KinetixAnalyticsAddin 77. KinetixDataAddin 78. CMDKinetix 79. JETSR 80. LIAMUS 81. Remedy 82. ESP 83. FPS 84. WebCCNet 85. PrivateEquityCMS 86. CARS 87. SECAM 88. CDOSentry 89. TaxKnowledgeManager 90. Laura 91. YEC(YearEndCompensation) 92. IBDUniverse 93. IBDAnalytics 94. HRExitInterview 95. FORECAST 96. LehmanRisk

08/26/09 08/10/09 08/10/09 09/22/09 10/05/09 09/30/09 10/05/09 11/05/09 11/05/09 09/03/09 08/27/09 06/19/09 06/19/09 06/18/09 06/11/09 06/05/09 06/05/09 06/05/09 06/05/09 06/05/09 06/04/09 05/19/09

09/01/09 10/02/09 10/02/09 10/02/09 10/07/09 10/07/09 10/12/09 AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved AccessNotApproved

34

APPENDIX7:BIBLIOGRAPHY
InthecourseofinvestigatinganumberofthediscretetopicsassignedtotheExaminer, itwasnecessarytocollectandconsultpublicmaterials.Inthecourseofthoseefforts, the Examiner assembled an extensive, although certainly not comprehensive, list of publicly available materials relating to Lehman and relevant events, and he provides that list in this Bibliography as a potential resource for the parties and public. The Examinerdidnotrevieworrelyuponthelisteditemsexcepttotheextentspecifically cited in the Report, and the Examiner makes no representation as to the reliability or accuracyofanysourcelistedinthisBibliography. SUBSECTION 7.1 7.2 7.3 7.4 7.5 7.6 7.7 7.8 7.9 Books NewsArticles ScholarlyPublications InternetSources CongressionalHearings Speeches TelevisionBroadcasts GovernmentReports,Studies&Statements CallLogsandTranscripts TITLE

1.

Books BankruptcyofLehmanBrothers(FredericP.Miller,AgnesF.Vandome&John McBrewstereds.2009). SubprimeCrisisBackgroundInformation:BearStearns,CreditDefaultSwap, CollateralizedDebtObligation,CommercialPaper,MortgagebackedSecurity, BalanceSheet,MarktomarketAccounting(FredericP.Miller,AgnesF. Vandome&JohnMcBrewstereds.2009). LiaquatAhamed,LordsofFinance:TheBankersWhoBroketheWorld (2009). RobertZ.AliberandCharlesP.Kindleberger,Manias,PanicsandCrashes:A HistoryofFinancialCrises(6thed.2010)(1978). FranklinAllenandDouglasGale,UnderstandingFinancialCrises(Clarendon LecturesinFinance)(2009). KenAuletta,GreedandGloryonWallStreet:TheFalloftheHouseofLehman(1985). NaohikoBabaandFrankParker,FromTurmoilCrisis:DislocationsintheFXSwap MarketBeforeandAftertheFailureofLehmanBrothers(2009). DeanBakerandThomasFrank,PlunderandBlunder:TheRiseandFalloftheBubble Economy(2009). RichardM.Bookstaber,ADemonofOurOwnDesign:Markets,HedgeFunds,and thePerilsofFinancialInnovation(2008). EugeneF.BrighamandJoelF.Houston,FundamentalsofFinancialManagement (8thed.1998). CharlesBrownell,SubprimeMeltdown:FromU.S.LiquidityCrisisToGlobal Recession(2008). MooradChoudhry,TheRepoHandbook(2002). WilliamD.Cohan,HouseofCards:ATaleofHubrisandWretchedExcessonWall Street(2009). GeorgeCooper,TheOriginofFinancialCrises:CentralBanks,CreditBubbles,andthe EfficientMarketFallacy(2008). AswathDamodaran,CorporateFinance,TheoryandPractice(2ded.2001). 2

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KevinP.Phillips,BadMoney:RecklessFinance,FailedPolitics,andtheGlobalCrisisof AmericanCapitalism(2008). Hon.RichardA.Posner,Catastrophe:RiskandResponse(2004). Hon.RichardA.Posner,AFailureofCapitalism:TheCrisisof08andtheDescent intoDepression(2009). ShannonP.Pratt,etal.,ValuingaBusiness(5thed.2007). ShannonP.PrattandRogerJ.Grabowski,CostofCapital:Applicationsand Examples(3ded.2008). NomiPrins,ItTakesaPillage:BehindtheBailouts,Bonuses,andBackroomDealsfrom WashingtontoWallStreet(2009). ColinRead,GlobalFinancialMeltdown:HowWeCanAvoidTheNextEconomicCrisis (2009). RobertF.ReillyandRobertP.Schweihs,ValuingIntangibleAssets(1999). CarmenM.Reinhart,ThisTimeisDifferent:EightCenturiesofFinancialFolly(2009). BarryRitholtz,BillFleckenstein,andAaronTask,BailoutNation:HowGreedand EasyMoneyCorruptedWallStreetandShooktheWorldEconomy(2009). GuillermoRosas,CurbingBailouts:BankCrisesandDemocraticAccountabilityin ComparativePerspective(2009). NourielRoubiniandBradSetser,BailoutsorBailIns:RespondingtoFinancialCrises inEmergingMarkets(2004). HermanM.Schwartz,SubprimeNation:AmericanPower,GlobalCapital,andthe HousingBubble(2009). HalS.Scott,TheGlobalFinancialCrisis(2009). AndrewSheng,FromAsiantoGlobalFinancialCrisis:AnAsianRegulatorsViewof UnfetteredFinanceinthe1990sand2000s(2009). RobertJ.Shiller,TheSubprimeSolution:HowTodaysGlobalFinancialCrisis Happened,andWhattoDoAboutIt(2008). PhyllisLipkaSkupien,Esq.,TheSubprimeCrisis,AThomsonWestReport: PerspectivesandLegalInsights(2008). 5

AndrewRossSorkin,TooBigtoFail:TheInsideStoryofHowWallStreetand WashingtonFoughttoSavetheFinancialSystemfromCrisisandThemselves (2009). GeorgeSoros,TheNewParadigmforFinancialMarkets:TheCreditCrisisof2008and WhatItMeans(2008). ThomasSowell,TheHousingBoomandBust(2009). GaryH.Stern,RonJ.Feldman,andPaulA.Volcker,TooBigtoFail:TheHazardsof BankBailouts(2009). AllisonTaylorandAliciaSansone,TheHandbookofLoanSyndicationsandTrading (2007). JohnB.Taylor,GettingOffTrack:HowGovernmentActionsandInterventions Caused,Prolonged,andWorsenedtheFinancialCrisis(2009). GillianTett,FoolsGold:HowtheBoldDreamofaSmallTribeatJ.P.MorganWas CorruptedbyWallStreetGreedandUnleashedaCatastrophe(2009). JosephTibman,TheMurderofLehmanBrothers:AnInsidersLookattheGlobal Meltdown(2009). VickyWard,TheGreatMistake:TheFallofLehmanBrothersandtheWeekendThat ChangedtheWorld(2010). JosephWechsberg,LehmanBrothers:TheMoneyMagicians(1990). DavidWessel,InFedWeTrust:BenBernankesWarontheGreatPanic(2009). MarkWilliams,UncontrolledRisk:LessonsofLehmanBrothersandHowSystemic RiskCanStillBringDowntheWorldFinancialSystem(2010). ThomasE.WoodsJr.andRonPaul,Meltdown:AFreeMarketLookatWhytheStock MarketCollapsed,theEconomyTanked,andGovernmentBailoutsWillMake ThingsWorse(2009). MarkZandi,FinancialShock:A360LookattheSubprimeMortgageImplosion,and HowtoAvoidtheNextFinancialCrisis(2008). GregoryZuckerman,TheGreatestTradeEver:TheBehindtheScenesStoryofHow JohnPaulsonDefiedWallStreetandMadeFinancialHistory(2009).

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NewsArticles ACuriousCoalitionOpposedBailoutBill,N.Y.Times,Oct.3,2008. ANewFinancialFoundation,Wash.Post,June15,2009. Agencys04RuleLetBanksPileUpNewDebt,N.Y.Times,Oct.3,2008. ArchstoneSmithExtendsDeadlineforBuyoutMarketwatch,WallSt.J.,Aug.6, 2007. ArchstoneSmithMaybeAcquired,L.A.Times,May29,2007. ArchstoneSmithRatingsWithdrawnPostClosureofAcquisitionFitch,Forbes,Nov. 8,2007. Asked&Answered:BernankeTakesonCapitalQuestions,WallSt.J.,Dec.3,2009. BankruptLehmanPaysAdvisers$308MinFees,N.Y.DailyNews,Aug.22,2009. BarclaysDiamondHailsSuccessofLehmanBuy,DailyMail,Aug.3,2009. BarclaysSaidtoPlan$6.3BillionSpinOff,N.Y.Times,Oct.12,2009. BearDealMayDiscourageOtherInvestors,WallSt.J.,Mar.21,2008. BearHoldersWontHaltSale,WallSt.J.,May8,2008. BearNakedLenders,WallSt.J.,Mar.18,2008. BearStearnsSaidTwoHedgeFundsitRunsAreNowWorthNearlyNothing,asThe DownturninBondsTiedtoSubprimeMortgagesGetsDeeperandGoesGlobal, WallSt.J.,July18,2007. BernankeDefendsFedRecord,Money,Jan.3,2010. BernankeForgivesHimselfforLehmanBros.Failure,Chi.Trib.,Aug.25,2009. BernankeSeesRecoveryBeginningin2010,N.Y.Times,Mar.15,2009. BernankesBearMarket,WallSt.J.,Aug.6,2007. BernankesSpeechatJacksonHoleFedConference,Reuters,Aug.21,2009. BofAIsSaidtoBeSellingLehmanClaim,N.Y.Times,Oct.8,2009. BusinessandFinance,WallSt.J.,Oct.5,2007. 7

BusinessBriefs,N.Y.Post,Nov.19,2009. CaymanIslands:HitbyHurricaneLehman,Guardian(London),Sept.3,2009. ChicagoanNamedtoInvestigateLehmansFailureFormerU.S.AttorneyValukasto ProbeHugeBankruptcy,Chi.SunTimes,Jan.21,2009. ChristopherCox,SECChief,DefendsAgencysRecord,N.Y.Times,Jan.4,2009. Corrections&Amplifications,WallSt.J.,Oct.11,2007. CreditCrunchTime,WallSt.J.,June28,2007. CrisisonWallSt.,LehmansFuldtoLeaveFirmatEndofYear,WallSt.J.,Nov.6, 2008. DidLehmansFallMatterTheFinancialServiceFirmsCollapseDidntTriggerthe Meltdown,Newsweek,May18,2009. DTCCNamesBridgetE.OConnorChiefTechnologyOfficer,Reuters,Sept.1,2009. EDFtoBuyLehmansEagle,WallSt.J.,Sept.30,2008. EndofWallStreet:WhatHappened(Transcript),FoxNews,Jan.5,2009. ExtendedInterviewwithBenBernanke,Time,Dec.8,2009. FACTBOX:ABriefHistoryofLehmanBrothers,Reuters,Sept.13,2008. FACTBOX:ClaimsFiledAgainstLehmanBrothers,Reuters,Oct.13,2009. FedChairmanQ&AonFinancialCrisis,WallSt.J.,Oct.16,2008. FedspeakHighlights:BernankeonLehman,HousePrices,More,WallSt.J.,Oct.15, 2008. FeinbergToHeadPanel,WallSt.J.,May14,2009. FinancialFirmsinAdministration,BBCNews,Oct.14,2009. ForeignStocksFallonU.S.Alarms,WallSt.J.,Aug.2,2007. FromGeneralStoretoTitan:ABriefHistoryofLehman,WallSt.J.,Sept.15,2008. G20AimsatBankPayandCapital;StimulustoStay,Reuters,Sept.6,2009.

GeithnerAnswersSomeToughQuestionsFromDiggCommunity,DailyFinance, Aug.25,2009. GeithnerSaysNoTilttoGoldman,WallSt.J.,Aug.22,2009. Geithner:StimulusEffortstoContinueUntilRecoveryinPlace,CNN,Sept.7,2009. GermanBankProbedinLehmanTransfers,WallSt.J.,Oct.23,2008. HeardontheStreet:FinancialAnalysisandCommentary,WallSt.J.,Sept.10,2008. PaulsonDefendsBearStearnsRescue,Forbes,Mar.16,2008. IndyMacProvidesAdditionalCreditLossAnalysisonAltAandSubprimeLending, BusinessWire,Mar.29,2007. InsidetheTimes:RallyonWallStreet,N.Y.Times,Aug.23,2008. InvestinginFunds:AQuarterlyAnalysisAdviserAlert,WallSt.J.,Oct.2,2008. InvestmentBankPlansforKDBtoGoAhead,TheChosunIlbo,Sept.24,2008. J.P.Morgan,BearNearCompletion,WallSt.J.,Apr.9,2008. LehmanBros.HoldingsChieftobeTerminated,LasVegasReviewJournal,Nov.6, 2008. LehmanBrothers,Fin.Times,Sept.9,2008. LehmanBrothers,Fin.Times,Sept.10,2008. LehmanBrothersandtheCrisis:AYearOn,Economist,Sept.10,2009. LehmanBrothersDisappearedwithHankPaulsonsReputationHeWantsitBack, Newsweek,Jan.29,2009. LehmanBrothersExaminerAppointed,netDockets,Jan.21,2009. LehmanBrothersExaminesChinaGrowthOptions,ChinaDaily,Apr.3,2008. LehmanBrothersGetsExaminer,Bankr.L.Rep.,Feb.3,2009. LehmanBrothersSaidontheBlock,AmericanBanker,Sept.12,2008. LehmanClientsHaveToWait,WallSt.J.,Aug.24,2009.

LehmanInheritorsDiscoverUSRulesGlobalAdvisoryRoost,EuroWeek,Aug.7, 2009. LehmanIsNotReadytoFuld,N.Y.Times,Mar.18,2008. LehmanLeavingS&P500Today,WallSt.J.,Sept.16,2008. LehmanSeeksTimeToPayCreditors,WallSt.J.,Dec.31,2008. LehmansFate,WallSt.J.,Sept.12,2008. LehmansFuldSpeaks,N.Y.Times,Sept.10,2008. LehmansLatestBlow,Fin.Times,Sept.3,2008. LookingfortheWhenNottheHow,inBernankesExitStrategy,N.Y.Times,July 21,2009. MoneyBall,WallSt.J.,Aug.17,2007. MUFGsLehmanExposure,WallSt.J.,Sept.22,2008. OsparietoCloseFlagshipHedgeFundAfter27%Tumble,N.Y.Times,Sept.3,2008. Overheard:ScalingMt.Lehman,WallSt.J.,Sept.15,2009. PattonBoggsPicksUpTopLehmanBrothersLawyer,BlogofLegalTimes,Apr.9, 2009. PaulsonSanguineonEconomy,China,L.A.Times,Mar.5,2007. PushoversattheFed,WallSt.J.,Mar.25,2008. ReinventingaMarketsWatchdog,Wash.Post,Nov.4,2008. Report:BankofAmericaOfferingToRepaySomeAid,AssociatedPress,Sept.1,2009. RobJohnsonInterviewwithJimChanos,NewDeal2.0,Sept.1,2009. S&PPlacesLehmanonNegativeRatingsWatch,AssociatedPress,Sept.9,2008. SECClampsDownonNakedShortSelling,CourthouseNewsServ.,Aug.13,2009. S.E.C.PlantoDistributeMoneyFundIsAccepted,N.Y.Times,Nov.26,2009. SecretaryGeithnersResponsetoQuestionsfromtheWallStreetJournalandDigg RegardingGoldmanSachs,WallSt.J.,Aug.22,2009. 10

SomeQuestionsforTimothyGeithner,IntlHeraldTrib.,Dec.15,2008. StarkWordsBernankeSeesSubstantialCorrection,Fin.Times,Oct.5,2006. TheAfternoonEdition:LehmansNews,WallSt.J.Online,Sept.10,2008. TheAfternoonReport:LehmanSinks,WallSt.J.,Sept.9,2008. TheBearStearnsFallout:BearStearnsTriggersFearsinAsia,WallSt.J.,Mar.18, 2008. TheFinancialTruthCommission,N.Y.Times,July29,2009. TheHistoryofLehman1844,DailyTelegraph(London),Sept.15,2008. TheHistoryofLehman:aTimeline,FinancialWeek,Sept.14,2008. TheMeltdownThatWasnt,WallSt.J.,Nov.15,2008. TimelineHowtheAIGCrisisUnfolded,Fin.Times,June16,2008. TimelineofaCrisis,WallSt.J.,Mar.17,2008. TranscriptofAriShapirosInterviewwithToddPurdum:VanityFairProfilesFormer TreasuryHeadPaulson,NationalPublicRadio,Sept.2,2009. UPDATE1BarclaysOwed$3BillioninAssetsforLehmanLawyer,Reuters,Oct.16, 2009. UPDATE1HypoRealEstateSellsoffLehmanClaims,Reuters,Oct.19,2009. WallStreetJournalProfileonBartMcDade,WallSt.J.,Aug.28,2008. WallStreet,StillaLittleWobbly,SteadiesItself,N.Y.Times,Aug.25,2007. Wash.PensionInvestmentBoardSuesOverLehmanLosses,SeattleTimes,May20, 2009. WhatsNews;BusinessandFinance,WallSt.J.,June23,2007. WhatsNews;BusinessandFinance,WallSt.J.,July18,2007. WhatsNews;BusinessandFinance,WallSt.J.,July27,2007. WhatsNews;BusinessandFinance,WallSt.J.,Sept.5,2007. WhatsNews;BusinessandFinance,WallSt.J.,Oct.5,2007. 11

WhatsNews;BusinessandFinance,WallSt.J.,Oct.19,2007. WhatsNews;BusinessandFinance,WallSt.J.,Mar.25,2008. WhatsNews;BusinessandFinance,WallSt.J.,Apr.4,2008. WhatsNews;BusinessandFinance,WallSt.JAug.28,2008. WorriesOverOil,FinancialsHurtStocks,Wash.Post,Aug.24,2008. ABCNews,TranscriptofTimothyGeithnerInterviewonThisWeek,Mar.29,2009. MaxAbelson,LehmanBrothersFuldWants$32M.forParkCoop;Stealth Marketing:WhyHavePressIfYouCanAvoidIt,N.Y.Observer,May19, 2009. JenniferAblan,Honey,IShrunktheAnalystsWallSt.TollMounts,Reuters, Nov.18,2008. ShamimAdamandLizaLin,KrugmanSaysBernankeShouldBeReappointedtoFed, Bloomberg,Aug.10,2009. LiaquatAhamed,DidLehmansFallMatter?,Newsweek,May18,2009. VivekAhuja,ExLehmanEuropeBankersClaim$100MillioninLostPay,WallSt.J., Oct.13,2009. JocelynAllison,SecuritiesPlaintiffsFightLehmanExaminerTerms,Law360,Jan.29, 2009. TracyAlloway,BarclaysProtiumPurifiedBalanceSheet,Fin.Times,Nov.10,2009. JoshAlper,GiantsTryingtoRecover$300MillionfromLehmanBrothers, ProFootballTalk.com,Aug.27,2009. ShefaliAnand,TheJunkyardDogsInvestorsinSomeFundsRisingRiskPremiums HitHighYieldHoldings;IWouldntbeanOwner,WallSt.J.,July10,2007. ShefaliAnand,NeubergerStartsIndependentPathNoLongerJustEquityShopfor Lehman,WallSt.J.,May1,2009. ShefaliAnandandDiyaGullapalli,BondFundDrop:NotQuiteaJuneSwoon SubprimeDoesntWreakasMuchHavocasFeared;AvoidingRiskiestSecurities, WallSt.J.,June26,2007.

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GeorgeAnders,Business:WasAnotherEndingPossibleforBear?,WallSt.J.,Mar. 19,2008. JennyAnderson,AfterschocksofaCollapse,WithaBankattheEpicenter,N.Y.Times, Mar.18,2008. JennyAnderson,AtLehman,AllayingFearsAboutBeingtheNexttoFall,N.Y. Times,Mar.18,2008. JennyAnderson,DemotedLehmanOfficerLeavesforCreditSuisse,N.Y.Times,July 16,2008. JennyAnderson,BurdenedbyMortgages,LehmansOptionsNarrow,N.Y.Times, Aug.22,2008. JennyAndersonandEricDash,ForLehman,MoreCutsandAnxiety,N.Y.Times, Aug.29,2008. JennyAnderson,AndrewRossSorkin,BenWhite,AsOptionsFade,LehmanisSaid toSeekaBuyer,N.Y.Times,Sept.12,2008. JennyAndersonandLouiseStory,LehmanMayPutaPrizedUnitontheBlock,N.Y. Times,Aug.19,2008. JerryAndersonandLandonThomas,WorldBusiness,N.Y.Times,Aug.22,2008. JennyAndersonandLandonThomas,LehmansSharesGainonSignsofRaising Capital,N.Y.Times,Aug.23,2008. JennyAndersonandBenWhite,WallStreetsFearsonLehmanBrothersBatter Markets,N.Y.Times,Sept.10,2008. EdmundL.Andrews,InMortgagePlan,LendersSetTerms,N.Y.Times, Dec.7,2007. EdmundL.Andrews,FedActstoRescueFinancialMarkets,N.Y.Times,Mar.17, 2008. EdmundL.Andrews,ForgetAloof,BernankeGoesBarnstorming,N.Y.Times, July26,2009. EdmundL.Andrews,WorldBankersSuggestReboundMayhaveBegun,N.Y.Times, Aug.21,2009.

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EdmundL.Andrews,ObamatoNominateBernanketo2ndTermatFed,N.Y.Times, Aug.25,2009. EdmundL.Andrews,BernankeSaysFedShouldHaveDoneMore,N.Y.Times, Dec.4,2009. EdmundL.AndrewsandStephenLabaton,BailoutPlan:$2.5TrillionandaStrong U.S.Hand,N.Y.Times,Feb.11,2009. MichaelAneiro,RiskyDebtIssuancesMeetInvestorResistance,WallSt.J.,June23, 2007. MichaelAneiro,ARespiteforBondsAfterDaysofStressGMACEarningsHelp, RiskPremiumsTighten;AMorganStanleyBoost,WallSt.J.,July31,2007. BinyaminAppelbaumandDavidCho,FedsApproachtoRegulationLeftBanks ExposedtoCrisis,Wash.Post,Dec.21,2009. MatthewArtz,FremontLookstoRecoup$4MillionLehmanLoss,MercuryNews, Mar.26,2009. AssociatedPress,HongKongInvestorsSueLehmanOverMinibonds,IntlHerald Trib.,Mar.13,2009. AssociatedPress,JudgeRejectsBankruptcyfor2HedgeFunds,N.Y.Times,Aug.31, 2007. AssociatedPress,LehmanBankruptcyExaminerBeginsInvestigation,Associated Press,Jan.28,2009. AssociatedPress,LehmanExaminerHiresDuffandPhelpsasAdviser,Associated Press,Feb.25,2009. AssociatedPress,LehmanBarclaysTook$8.28MoreThanAllowed,WallSt.J.,Sept. 16,2009. BarryAugenbraunandNelsonMarans,BearsMastersoftheUniverseZapped (LetterstotheEditor),WallSt.J.,Mar.22,2008. KenAuletta,Power,GreedandGloryonWallStreet:TheFalloftheLehmanBrothers, N.Y.Times,Feb.17,1985. JohnAuthers,TheShortView,Fin.Times,Mar.15,2007.

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JeannineAversa,EmergencyMeetingonLehmanRescueRsum,AssociatedPress, Sept.13,2008. VikasBajaj,HomePricesFallinMoreThanHalfofNationsBiggestMarkets,N.Y. Times,Feb.16,2007. VikasBajaj,BearStearnsShakesUpFundsUnit,N.Y.Times,June30,2007. VikasBajaj,MoodysSaysWorkersRatedSomeSecuritiesIncorrectly,N.Y.Times, July2,2008. VikasBajaj,AWallStreetGoliathTeetersAmidFearofaWiderCrisis,N.Y.Times, Sept.14,2008. VikasBajajandChristineHaughney,TremorsattheDoor,N.Y.Times,Jan.26, 2007. VikasBajajandJulieCreswell,BearStearnsStavesOffCollapseof2HedgeFunds, N.Y.Times,June21,2007. ClareBaldwin,JuiCharkravortyandJonathanSpicer,Exclusive:FuldSaysBeing DumpedOnforLehmanFailure,Reuters,Sept.7,2009. BrianBandell,LehmanBros.Wins$50MForeclosureJudgmentinDelrayBeach,S. Fla.Bus.J.,Aug.6,2009. ParitoshBansalandEmilyChasan,LehmanPutsTwoBankUnitsonMarket:Source, Reuters,Mar.16,2009. ParitoshBansal,ElinorComlayandJonathanStempel,LehmanMeetingWith BuyersforNeuberger:Report,Reuters,Sept.8,2008. PeterBarnes,AIGApparentlyWasNotTooBigtoFail,FOXBusiness,June29, 2009. AlistairBarr,AccreditedHomeStopsMakingRiskierLoans,MarketWatch,Feb.14, 2007. AlistairBarr,SubprimeMortgageWoesMaybeSpreading,MarketWatch,Mar.11, 2007. AlistairBarr,LehmanCutsValueofLeveragedLoans,Mortgages;BankMarksDown CommitmentsandPositionsbyaNet$700Million,MarketWatch, Sept.18,2007. 15

AlistairBarr,LehmanSharesFallAfterMoodysWarning,MarketWatch, Sept.10,2008. AlistairBarr,etal.,LehmanCFOCallan,COOGregoryOustedfromPosts, MarketWatch,June12,2008. KatharinaBart,CrisisonWallStreet:SwissBanksFaceaLehmanProbeWatchdog InvestigatestheMethodsUsedtoSellCertainStructuredProducts,WallSt.J., Nov.4,2008. MariaBartiromo,LehmanCFOErinCallan:BackfromUglyMonday,Business Week,Mar.20,2008. DavidWattsBartonandKarenGullo,S&PSaysItShouldntBeSuedOveraRating onLehmanBonds,Bloomberg,July31,2009. AndrewBary,ApartmentHouseBlues,Barrons,Jan.21,2008. ShannyBasar,BearStearnsHadOneDayLiquidityLossofMorethan$10BN,Fin. News,Apr.3,2008. ShannyBasar,HowtheFinanceWorldFaredintheVanityFair100,Fin.News,Sept. 2,2009. StephanieBaum,BNYMellonFundsExposedtoLehmanBankruptcy,Financial News,Sept.24,2008. BBCNews,PaulsonAdmitsBankMergerThreat,BBCNews,July15,2009. BBCNews,BBCWorldDramaTheDayThatLehmanDied,BBCNews,Sept.2, 2009. MarieBeaudette,ExLehmanTraderSuesBarclaysFor$19.6M,WallSt.J.,Feb.19, 2009. MarieBeaudette,HousePanelMullsBankruptcyCodeChanges,WallSt.J.,Mar.11, 2009. MarieBeaudette,LehmanHoldsOnToRadioactiveAssets,WallSt.J.,Apr.14,2009. MarieBeaudette,LehmanPaid$402.9MillioninYeartoBankruptcyLawyers, Advisers,WallSt.J.,Oct.15,2009. MarieBeaudette,TheDailyDocket:CreditorsAttackStationLBO,WallSt.J.,Dec. 30,2009. 16

MarieBeaudette,BankruptcyWeekAhead:LehmanSeeksClaimsResolutionApproval, WallSt.J.,Jan.8,2010. MarieBeaudetteandPatrickFitzgerald,BankruptcyWeekAhead:StationCasinos LendersSeekProbe,WallSt.J.,Nov.13,2009. RachelBeck,HowToughistheSEC?,Forbes,Aug.8,2009. BernieBeckerandBenWhite,LehmanManagersPortrayedasIrresponsible,N.Y. Times,Oct.7,2008. JoBeckerandGretchenMorgenson,Geithner,asMemberandOverseer,ForgedTies toFinanceClub,N.Y.Times,Apr.27,2009. NathanBecker,Kaufman:TreasuryShouldAidMortgageGiants,EconomistofDr. DoomFameAlsoAdvisesSwiftActiononRegulatoryOverhaul, MarketWatch,July11,2008. KatieBenner,ErinCallan:LuckytoGetOut,Money,Sept.26,2008. RupiniBergstrom,MovingtheMarket:BearStearnstoCut650Jobs,InItsThird RoundofLayoffs,WallSt.J.,Nov.29,2007. DennisK.Berman,TheGameBearat$10:DoneDeal?ChallengesAreInevitable AndCourtsRule,ButHigherPriceUnlikely,WallSt.J.,Mar.25,2008. DennisK.Berman,CrisisonWallStreetTheGame:OntheStreet,Disbeliefand Resignation,WallSt.J.,Dec.9,2008. DennisK.Berman,AlexFrangosandJenniferS.Forsyth,BigApartmentREIT NearsSale;Lehman,TishmanSpeyerCouldPayover$12BillionforArchstone SmithTrust,WallSt.J.,May29,2007. DennisK.Berman,HeidiN.MooreandMatthewKarnitschnig,ItisToughto ValueBear,ButItHadBetterSellFast,WallSt.J.,Mar.15,2008. BenBernanke,TheRightReformfortheFed,Wash.Post,Nov.29,2009. JakeBernstein,LehmanMortgageServiceronLifeSupportGetsaPieceofTARP, ProPublica,May11,2009. JuliaBerris,LehmansEightHourFireSale,TheLawyer,Sept.29,2008. SreeVidyaBhaktavatsalam,ReserveFundInvestorsMayGetUpto99CentsaShare, Bloomberg,Aug.25,2009. 17

OliverBiggadikeandTakashiUeno,LehmantoSueJapansMarubeni,Claiming LoanFraud,Bloomberg,Mar.29,2008. CarolineBinham,LehmanRulingHindersFSAProbesIntoClientAccounts, Bloomberg,Jan.21,2010. AndrewBlackman,InvestinginFunds:AMonthlyAnalysisInvestorIQQuiz: HowWellDoyouKnowRiskyBonds?,WallSt.J.,Aug.6,2007. BrianBlackstone,FedAgreestoEaseSomeRulesforJ.P.Morgan,WallSt.J.,Apr.5, 2008. JohnBlakeley,CourtBlessesRulesforLehmanSale,TheDeal,Sept.19,2008. JohnBlakeley,ResolvingLehmans$138BMysteryLoan,TheDeal,Dec.17,2008. MelissaBlockandHenryPaulson,TreasurySecretaryHenryPaulsonAddresses RecentMarketVolatility,ChineseEconomy,NPRInterviewTranscript,Mar. 2,2007. DeborahL.Blumberg,TreasurysNotchSmallGainsTradersAwaitDataonU.S. PayrollsAsEquitiesRoar,WallSt.J.,May31,2007. DeborahLynnBlumberg,SomeBondInvestorsLookBeyondVolatilityMoney ManagersSeeLossesInRiskierAssetsasAGoodTimetoBuy,WallSt.J.,Aug. 2,2007. DeborahLynnBlumbergandAnushaShrivastava,SubprimeCrisisisLikelyto ContinueitsSting,WallSt.J.,June25,2007. DavidBogoslaw,IsLehmanLiquidEnough?,Bus.Wk.,Mar.18,2008. WilliamBoston,RealEstateFinance:TheTowerThatLehmanBoughtParisComplex FacesDeadlineon$1.94BillionRepayment,WallSt.J.,Feb.18,2009. BrennaBraaten,EverlandsMeltdownLeavesMontanasLoneMountainRanchin Limbo,NewWest,Aug.26,2009. AdamBradbery,MemoriesofLehmanFadeFromaKeyMeasureofRisk,WallSt.J., Aug.14,2009. ChadBray,CrisisonWallStreet:BofASuesBearUnit,ExStaffers,WallSt.J.,Oct. 30,2008.

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PennBullock,IsFedChairmanBenBernankeaFollowerofJohnMaynardKeynesor MiltonFriedman?,Reasononline,Sept.1,2009. KatherineBurton,SherrsOneWilliamStreetLeadsNewHedgeFundRush, Bloomberg,Mar.20,2009. AndrewB.Busch,Busch:TheBernankeMendozaLine,CNBC,Aug.21,2009. TomCahill,LehmanHedgeFundClientsLeftColdasAssetsFrozen(Update3), Bloomberg,Oct.1,2008. RickCarew,CreditCrunch:BearSuccumbs:UnravelingofBearCriticDealReveals RisksChineseFirmsGoalsAreDealtaSetback;ShortTermBlessing,WallSt. J.,Mar.17,2008. JohnCarney,TheNewYorkersEconomicsDude:LehmanMatters!,Bus.Insider, Mar.16,2009. JohnCarney,JoeGregoryWantsLehmanToPayHim$233Million,Bus.Insider, Aug.26,2009. JohnCarney,Nope,InvestorsDidntIrrationallyPanicAfterLehmanCollapsed,Bus. Insider,Sept.24,2009. JohnCassidy,AnatomyofaMeltdown:BenBernankeandtheFinancialCrisis,New Yorker,Dec.1,2008. W.JosephCaton,WilltheLoanTradeMarketFinallyOpenUp?,NationalReal EstateInvestor,June1,2008. CBSNews,BenBernankesGreatestChallenge,60Minutes,June7,2009. SewellChan,BankersFaceToughQuestionsatHearingonFinancialCrisis,N.Y. Times,Jan.14,2010. ChanyaportnChanjaroenandAlexanderKwiatkowski,LehmanBrothers SuspendedFromLondonCommodityTrade(Update3),Bloomberg,Sept.15, 2008. IreneChapple,HedgeFundBattleOverClientLehmanFundsKicksOff;Weeksof HearingsExpected,Debtwire,Nov.10,2009. EmilyChasanandChelseaEmery,UPDATE2LehmanExpectsReorganization Planin1stQtr,Reuters,Nov.18,2009. 21

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GregIpandGregHitt,CreditCrisis:MarketBounces:MortgageSecuritiesBackFed LoantoBearStearns,WallSt.J.,Apr.2,2008. GregIpandJoellenPerry,CreditTurmoilTestsCentralBanksAsMarketLosses Spread,PolicyMakersGrapplewithHardLineStance,WallSt.J.,Aug.10, 2007. GregIpandMichaelM.Phillips,TheBearSternsFallout:BailoutMayProvideFeda ChancetoTurnProfit,WallSt.J.,Mar.18,2008. WilliamM.Isaac,TheFedandtheMortgageCrisis,WallSt.J.,May22,2008. BobIvry,ChristineHarperandMarkPittman,MissingLehmanLessonofShakeout MeansTooBigBanksMayFail,Bloomberg,Sept.8,2009. StevensonJacobs,PaulsonFearful,FeltIllasCrisisDeepened,AssociatedPress,Jan. 28,2010. MatthewJaffe,FeinbergtoAssessExecutiveCompensationPlansatCompanies ReceivingBailoutFunds:AIG,Citigroup,BankofAmericaAmongSeven CompaniesReceivingExceptionalAssistance,ObamaAdministrationSays, ABCNews,Aug.12,2009. JeffJeffrey,FormerLehmanCLOGettingOnWithHisLife,Law.com,June2,2009. W.HolmanJenkins,Jr.,TheShort,HappyDeathofBear,WallSt.J.,Mar.26,2008. DavidJetuah,PwCReadiesReportonLehmanWindDown,AccountancyAge,Mar. 12,2009. DavidJetuah,PwCPushforLehmansSchemeofArrangement,AccountancyAge, Mar.17,2009. AshbyJones,CrisisonWallStreet:LehmanTapsBankruptcyExpertHarveyMiller, WallSt.J.,Sept.16,2008. AshbyJones,LawyersSettoProfitonLehman:WeilGotshalAsksBankruptcyCourtto ApproveRecordQuarterlyPayoutof$55Million,WallSt.J.,Apr.16,2009. AshbyJones,WeilGotshalsNextFeeRequestinLehman:$45.2Million,WallSt.J., Aug.18,2009. MarcJones,Trichet:SavingLehmanWouldntHaveStoppedCrisis,Reuters,Sept.15, 2009. 43

SamJones,BarclaysCreates$12BnCreditVehicle,Fin.Times,Sept.16,2009. StevenD.Jones,MovingtheMarket;TrackingtheNumbers/StreetSleuth:WallStreet LeadsConsolidationofSubprimeLendingBusiness;HighRiskLoanDefaults OpenDoorforBrokerages;TwoBirdswithOneStone,WallSt.J.,Nov.28, 2006. LuoJun,CreditCrisisWillExtendInto2009,OppenheimerSays(Update1), Bloomberg,May20,2008. SongJunga,HenrySenderandPeteThalLarsen,SouthKoreasKDBConfirms TalksWithLehman,Fin.Times,Sept.2,2008. SongJunga,HenrySenderandPeteThalLarsen,LehmanLifelineTalkswith SouthKoreanLender,Fin.Times,Sept.3,2008. SongJunga,RegulatorAsksKDBtoRethinkLehmanMove,Fin.Times, Sept.8,2008. SongJunga,KDBWarnedoverLehmanStake,Fin.Times,Sept.8,2008. SongJunga,KDBSuspendsTalkswithLehman,Fin.Times,Sept.8,2008. TomJunod,TheDealoftheCentury,Esquire,Oct.2009. AjayKamalakaranandValerieLee,LehmanEuropeAdministratorsPreparingNew $90BlnClaimFT,Reuters,Oct.19,2009. AjayKamalakaranandJonStonestreet,LehmanUS,UKunitsatOddsOver Bankruptcy:Report,Reuters,May26,2009. AjayKamalakaranandSueThomas,LehmanTapsBankruptcyExpertHarvey Miller,Reuters,Sept.16,2008. CraigKarmin,MajorTexasPensionMakesaBigPushintoHedgeFunds,WallSt.J., July14,2007. CraigKarmin,SecuritiesLendingIsBeingSqueezedWoesAreTiedtoLehman, WaMuCollapseAndFreezeintheShortTermDebtMarkets,WallSt.J.,Oct.1, 2008. CraigKarminandSerenaNg,CollegesBuyUpRiskyDebtAfterBearsDebacle,Wall St.J.,June22,2007.

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MatthewKarnitschnig,DealJournal/BreakingInsightfromWJS.com,WallSt.J., Mar.24,2009. MatthewKarnitschnigandSusanneCraig,FedActedonLehmanRumorAmid MarketSpeculationinJuly,CreditSuisseWasUrgedToMaintainTies,WallSt. J.,Aug.21,2008. MatthewKarnitschnigandDavidEnrich,BearsRunUpSetstheStageforEpic ClashSpeculatorsIgniteRally,DrivingSharesUp23%:DisbeliefonDeal Price,WallSt.J.,Mar.19,2008. MatthewKarnitschnigandDiyaGullapalli,TheBearStearnsFallout:Though ArbsSayOtherwise,$2MayBeItStill,BearsInvestorsMayWanttoTake ShotAtAgitatingforMore,WallSt.J.,Mar.18,2008. MatthewKarnitschnigandDiyaGullapalli,Bidof$2MayBeBearHoldersOnly OptionDesiretoVoteAgainstJ.P.MorganChaseOfferCouldBeUnrealistic, WallSt.J.,Mar.19,2008. MatthewKarnitschnig,CarrickMollenkamp,SusanneCraigandAnnelenaLobb, LehmanRacestoFindaBuyerBankofAmericaisSaidtoBeinPreliminary Talks;U.S.PlaysMatchmakingRole,WallSt.J.,Sept.12,2008. MatthewKarnitschnig,CarrickMollenkamp&DanFitzpatrick,BankofAmerica toBuyMerrill,WallSt.J.,Sept.15,2008. HenryKaufman,HowtheFedLostItsGroove,WallSt.J.,Aug.14,2006. HenryKaufman,TransparencyandtheFed,WallSt.J.,Jan.3,2008. HenryKaufman,OurRiskyNewFinancialMarkets,WallSt.J.,Aug.15,2007. HenryKaufman,WhosWatchingtheBigBanks?,WallSt.J.,Nov.13,2007. HenryKaufman,FinancesUpperTierNeedsCloserScrutiny,Fin.Times, Apr.20,2008. JasonKellyandJonathanKeehner,LehmansSurvivalHingesonReluctantSaleof Unit(Update4),Bloomberg,Sept.11,2008. KateKelly,ASubprimeFundIsontheBrink,WallSt.J.,June16,2007. KateKelly,BearHiresLaneinBidforCredibilityAfterLossesatFunds,SavvyRisk ManagerWillRunMarinsUnit,WallSt.J.,June30,2007. 45

KateKelly,AfterBlowup,BearToRevampRiskControlBeefedUpOversight,New ReportingChainToComeatFundsUnit,WallSt.J.,July3,2007. KateKelly,BearCEOsHandlingofCrisisRaisesIssuesCayneonGolfLinks,10Day BridgeTripAmidSummerTurmoil,WallSt.J.,Nov.1,2007. KateKelly,HowGoldmanWonBigOnMortgageMeltdownATeamsBearishBets NettedFirmBillions;ANudgeFromtheCFO,WallSt.J.,Dec.14,2007. KateKelly,CreditCrunch:BearManagersActionsAreSubjectofInquiry,WallSt.J., Dec.18,2007. KateKelly,BarclaysSuesBearOverFailedFunds,WallSt.J.,Dec.20,2007. KateKelly,CaynetoStepDownAsBearStearnsCEOExecutive,UnderFire,To RemainChairman;TimetoPasstheBaton,WallSt.J.,Jan.8,2008. KateKelly,BearStearnsToShutDownAThirdFund,WallSt.J.,Jan.10,2008. KateKelly,BearProbeMayCenteronInvestorCall,WallSt.J.,Feb.15,2008. KateKelly,CaynePockets$61.3MillionForBearStockMoveMayDiminishChance ofFurtherBids;ValueofStakePlunged,WallSt.J.,Mar.28,2008. KateKelly,BearRevealsPlungeinSales,Trading,WallSt.J.,Apr.12,2008. KateKelly,SECWillScourBearTradingDataDocumentsRevealWhoWasExiting DealsinFinalDays,WallSt.J.,May28,2008. KateKelly,TheFallofBearStearns:LostOpportunitiesHauntFinalDaysofBear StearnsExecutivesBickeredOverRaisingCash,CuttingMortgages,WallSt. J.,May27,2008. KateKelly,TheFallofBearStearns:Fear,RumorsTouchedOffFatalRunonBear StearnsExecutivesSwungFromHopetoDespairintheSpaceofaWeek,Wall St.J.,May28,2008. KateKelly,TheFallofBearStearns:BearStearnsNearedCollapseTwiceinFrenzied LastDaysPaulsonPushedLowBallBid,Relented;aTestyTimeforDimon, WallSt.J.,May29,2008. KateKelly,BearStearnsHedgeFundManagersMayFaceIndictments,WallSt.J., June16,2008.

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BarbaraKollmeyer,BarclaysQuestionedOver$3.3BillionofLehmanFunds:FT, MarketWatch,Mar.5,2009. DawnKopeckiandJodyShenn,FannieMaeFiles$15.8BillioninClaimsinLehman Bankruptcy,Bloomberg,Nov.6,2009. NathanKoppel,WeilGotshalsFingerprintsAllOverTheDetroitBankruptcy Situation,WallSt.J.,Mar.31,2009. NathanKoppel,CreditRatersPleadtheFirst;WillItFly?,WallSt.J.,May21,2009. NicolettaKotsianas,Lehman:BankruptcyCourttoHearCLNDispute,Fin.Times, Aug.12,2009. ZacheryKouwe,JudgeRejectsSettlementOverMerrillBonuses,N.Y.Times,Sept. 15,2009. PaulKrugman,HenryPaulsonsPriorities,N.Y.Times,Dec.10,2007. LauraKulikowski,LehmanBrothersAmputatesMortgageArm,TheStreet.com,Aug. 22,2007. StephenLabaton,Agencys04RuleLetBanksPileUpNewDebt,N.Y.Times,Oct. 3,2008. StephenLabaton,GeithnerTakesRegulatorstoTaskonTurfBattle,N.Y.Times,Aug. 6,2009. JuanLagorioandElinorComlay,BarclaysLehmanAssetsPerformingWell, Reuters,Dec.14,2009. JuanLagorio,ElinorComlay,JohnWallaceandMaureenBaydek,UPDATE2 BarclaysLehmanAssetsPerformingWellDiamond,Reuters,Dec.14,2009. JustinLahart,AheadoftheTape:AfterSubprimeLaxLendingLurksElsewhere,Wall St.J.,Feb.20,2007. JustinLahart,AheadoftheTape:OverseasShiftsinTreasuryPilesMayHelpFed, WallSt.J.,June27,2007. JustinLahart,AheadoftheTape:RisingVolatilityRisksStranglingLiquidityFlow, WallSt.J.,July16,2007. JustinLahart,AheadoftheTape:ForWallStreet,SubprimeStoryIsUnfamiliar,Wall St.J.,July19,2007. 49

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5.

CongressionalHearings HedgeFundOperations:HearingBeforetheH.Comm.onBanking&Fin.Servs.,105th Cong.(Oct.1,1998). LongtermEconomicandBudgetChallenges:HearingBeforetheS.BudgetComm., 110thCong.(Jan.18,2007). TheFirstMonetaryPolicyReporttotheCongressFor2007:HearingBeforetheSen. Comm.onBanking,Hous.&UrbanAffairs,110thCong.(Feb.14,2007). FiscalChallengesandtheEconomyintheLongTerm:HearingBeforetheH.Comm.on theBudget,110thCong.(Feb.28,2007). MortgageMarketTurmoil:CausesandConsequences:HearingBeforetheS.Comm.on Banking,Hous.&UrbanAffairs,110thCong.(Mar.22,2007). TheEconomicOutlook:HearingBeforetheJ.Econ.Comm.,110thCong.(Mar.28, 2007). ModernizationofFederalHousingAdministrationPrograms:HearingBeforetheS. Comm.onBanking,Hous.&UrbanAffairs,110thCong.(July18,2007). MonetaryPolicyandtheStateoftheEconomy:HearingBeforetheH.Comm.onFin. Servs.,110thCong.(July18,2007). TheStateoftheSecuritiesMarkets:HearingBeforetheS.Comm.onBanking,Hous.& UrbanAffairs,110thCong.(July31,2007). LegislativeandRegulatoryOptionsforMinimizingandMitigatingMortgage Foreclosures:HearingBeforetheH.Comm.onFin.Servs.,110thCong. (Sept.20,2007). TheRoleandImpactofCreditRatingAgenciesontheSubprimeCreditMarkets: HearingBeforetheS.Comm.onBanking,Hous.&UrbanAffairs,110thCong. (Sept.26,2007). TheEconomicOutlook:HearingBeforetheJ.Econ.Comm.,110thCong.(Nov.8, 2007). WhatShouldtheFederalGovernmentDotoAvoidaRecession:HearingBeforetheJ. Econ.Comm.,110thCong.(Jan.16,2008). TheNearTermOutlookfortheU.S.Economy:HearingBeforetheH.Comm.onthe Budget,110thCong.(Jan.17,2008). 95

TheStateoftheUnitedStatesEconomyandFinancialMarkets:HearingBeforetheS. Comm.onBanking,Hous.&UrbanAffairs,110thCong.(Feb.14,2008). MonetaryPolicyandtheStateoftheEconomy:HearingBeforetheH.Comm.on FinancialServices,110thCong.(Feb.2627,2008). TheEconomicOutlook:HearingBeforetheJ.Econ.Comm.,110thCong.(Apr.2, 2008). TurmoilinU.S.CreditMarkets:ExaminingtheRecentActionsofFederalFinancial Regulators:HearingBeforetheS.Comm.onBanking,Hous.&UrbanAffairs, 110thCong.(Apr.3,2008). TurmoilinU.S.CreditMarkets:TheRoleofCreditRatingAgencies:HearingBeforethe S.Comm.onBanking,Hous.&UrbanAffairs,110thCong.(Apr.22,2008). SystemicRiskandtheFinancialMarkets:HearingBeforetheH.Comm.onFin.Servs., 110thCong.(July10,2008). RecentDevelopmentsinU.S.FinancialMarketsandRegulatoryResponsestoThem: HearingBeforetheS.Comm.onBanking,Hous.&UrbanAffairs,110thCong. (July15,2008). SemiannualMonetaryPolicyReporttotheCongress:HearingBeforetheS.Comm.on Banking,Hous.&UrbanAffairs,110thCong.(July15,2008). SystemicRiskandtheFinancialMarkets:HearingBeforetheH.Comm.onFin.Servs., 110thCong.(July24,2008). AuctionRateSecuritiesMarket:AReviewofProblemsandPotentialResolutions: HearingBeforetheH.Comm.onFin.Servs.,110thCong.(Sept.18,2008). TurmoilinU.S.CreditMarketsRecentActionsRegardingGovernmentSponsored Entities,InvestmentBanksandOtherFinancialInstitutions:HearingBeforethe S.Comm.onBanking,Hous.&UrbanAffairs,110thCong.,(Sept.23,2008). TheEconomicOutlook:HearingBeforetheJ.Econ.Comm.,110thCong.(Sept.24, 2008). TheFutureofFinancialServices:ExploringSolutionsfortheMarketCrisis:Hearing BeforetheH.Comm.onFin.Servs.,110thCong.(Sept.24,2008). CausesandEffectsoftheLehmanBrothersBankruptcy:HearingBeforetheH.Comm.on Oversight&GovtReform,110thCong.(Oct.6,2008). 96

EconomicRecovery:OptionsandChallenges:HearingBeforetheH.Comm.onthe Budget,110thCong.(Oct.20,2008). TheCreditRatingAgenciesandtheFinancialCrisis:HearingBeforetheH.Comm.on Oversight&GovtReform,110thCong.(Oct.22,2008). TheFinancialCrisisandtheRoleofFederalRegulators:HearingBeforetheH.Comm.on Oversight&GovtReform,110thCong.(Oct.23,2008). TurmoilintheU.S.CreditMarkets:ExaminingRecentRegulatoryResponses:Hearing BeforetheS.Comm.onBanking,Hous.&UrbanAffairs,110thCong.(Oct.23, 2008). OversightofImplementationoftheEmergencyEconomicStabilizationActof2008and ofGovernmentLendingandInsuranceFacilities;ImpactonEconomyandCredit Availability:HearingBeforetheH.Comm.onFin.Servs.,110thCong. (Nov.18,2008). TheRoleofFannieMaeandFreddieMacintheFinancialCrisis:HearingBeforetheH. Comm.onOversight&GovtReform,110thCong.(Dec.9,2008). ClarkCounty,NV:GroundZerooftheHousingandFinancialCrises:HearingBefore theCong.OversightPanel,110thCong.(Dec.16,2008). RegulatoryReform:HearingBeforetheCong.OversightPanel,111thCong.(Jan.14, 2009). HearingtoConsidertheNominationofTimothyF.GeithnertobeSecretaryofthe Treasury:HearingBeforetheS.Comm.onFin.,111thCong.(Jan.21,2009). PromotingBankLiquidityandLendingThroughDepositInsurance,Hopefor Homeowners,andOtherEnhancements:HearingBeforetheH.Comm.onFin. Servs.,111thCong.(Feb.3,2009). OversightoftheFinancialRescueProgram:ANewPlanfortheTARP:HearingBefore theS.Comm.onBanking,Hous.&UrbanAffairs,111thCong.(Feb.10,2009). AnExaminationoftheExtraordinaryEffortsbytheFederalReserveBanktoProvide LiquidityintheCurrentFinancialCrisis:HearingBeforetheH.Comm.onFin. Servs.,111thCong.(Feb.10,2009). PoliciestoAddresstheCrisesinFinancialandHousingMarkets:HearingBeforetheS. BudgetComm.,111thCong.(Feb.11,2009).

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TheSemiannualMonetaryPolicyReporttoCongress:HearingBeforetheS.Comm.on Banking,Hous.&UrbanAffairs,111thCong.(Feb.24,2009). MonetaryPolicyandtheStateoftheEconomy:HearingBeforetheH.Comm.onFin. Servs.,111thCong.(Feb.2526,2009). CopingwiththeForeclosureCrisisinPrinceGeorgesCounty,Maryland:Hearing BeforetheCong.OversightPanel,111thCong.(Feb.27,2009). ConsumerProtectionsinFinancialServices:PastProblems,FutureSolutions:Hearing BeforetheS.Comm.onBanking,Hous.&UrbanAffairs,111thCong.(Mar.3, 2009). EconomicandBudgetChallengesfortheShortandLongTerm:HearingBeforetheS. Comm.ontheBudget,111thCong.(Mar.3,2009). ThePresidentsFiscalYear2010Budget:HearingBeforetheH.Comm.ontheBudget, 111thCong.(Mar.3,2009). ThePresidentsFiscalYear2010BudgetOverview:HearingBeforetheH.Ways& MeansComm.,111thCong.(Mar.3,2009). ThePresidentsFiscalYear2010BudgetProposal:PartOne:HearingBeforetheS. Comm.onFin.,111thCong.(Mar.4,2009). PerspectivesonSystemicRisk:HearingBeforetheH.Comm.onFin.Servs.,111th Cong.(Mar.5,2009). TheTreasuryDepartmentFiscalYear2010Budget:HearingBeforetheH.Comm.onthe Budget,111thCong.(Mar.5,2009). EnhancingInvestorProtectionandtheRegulationofSecuritiesMarkets:HearingBefore theS.Comm.onBanking,Hous.&UrbanAffairs,111thCong.(Mar.10,2009). ThePresidentsFY2010BudgetProposal:HearingBeforetheS.Comm.ontheBudget, 111thCong.(Mar.10,2009). MortgageLendingReform:AComprehensiveReviewoftheAmericanMortgageSystem: HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Mar.11,2009). MarktoMarketAccounting:PracticesandImplications:HearingBeforetheH.Comm. onFin.Servs.,111thCong.(Mar.12,2009). ThePresidentsFY2010BudgetandRevenueProposals:HearingBeforetheS.Comm.on theBudget,111thCong.(Mar.12,2009). 98

PerspectivesonRegulationofSystemicRiskintheFinancialServicesIndustry:Hearing BeforetheH.Comm.onFin.Servs.,111thCong.(Mar.17,2009). AmericanInternationalGroupsImpactontheGlobalEconomy:Before,During,and AfterFederalIntervention:HearingBeforetheH.Comm.onFin.Servs.,111th Cong.(Mar.18,2009). LessonsLearnedinRiskManagementOversightatFederalFinancialRegulators: HearingBeforetheS.Comm.onBanking,Hous.&UrbanAffairs,111thCong. (Mar.18,2009). LearningfromthePastLessonsfromtheBankingCrisesofthe20thCentury:Hearing BeforetheCong.OversightPanel,111thCong.(Mar.19,2009). ModernizingBankSupervisionandRegulationVideoCourtesyofCSPAN:Hearing BeforetheS.Comm.onBanking,Hous.&UrbanAffairs,111thCong.(Mar.19, 2009). ModernizingBankSupervisionandRegulation,PartII:HearingBeforetheS.Comm.on Banking,Hous.&UrbanAffairs,111thCong.(Mar.24,2009). OversightoftheFederalGovernmentsInterventionatAmericanInternationalGroup: HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Mar.24,2009). ExploringtheBalancebetweenIncreasedCreditAvailabilityandPrudentLending Standards:HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Mar.25, 2009). AddressingtheNeedforComprehensiveRegulatoryReform:HearingBeforetheH. Comm.onFin.Servs.,111thCong.(Mar.26,2009). EnhancingInvestorProtectionandtheRegulationoftheSecuritiesMarketsPartII: HearingBeforetheS.Comm.onBanking,Hous.&UrbanAffairs,111thCong. (Mar.26,2009). TARPOversight:ASixMonthUpdate:HearingBeforetheS.Comm.onFin.,111th Cong.(Mar.31,2009). HearingwithTreasurySecretaryTimothyGeithner:HearingBeforetheCong.Oversight Panel,111thCong.(Apr.21,2009). SmallBusinessLendinginMilwaukee:HearingBeforetheCong.OversightPanel,111th Cong.(Apr.29,2009).

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TheEffectoftheLehmanBrothersBankruptcyonStateandLocalGovernments:Hearing BeforetheH.Comm.onFin.Servs.,111thCong.(May5,2009). RegulatingandResolvingInstitutionsConsideredTooBigtoFail:HearingBeforethe S.Comm.onBanking,Hous.&UrbanAffairs,111thCong.(May6,2009). PerspectivesonHedgeFundRegistration:HearingBeforetheH.Comm.onFin.Servs., 111thCong.(May7,2009). ApproachestoImprovingCreditRatingAgencyRegulation:HearingBeforetheH. Comm.onFin.Servs.,111thCong.(May19,2009). CapitalLoss,CorruptionandtheRoleofWesternFinancialInstitutions:HearingBefore theH.Comm.onFin.Servs.,111thCong.(May19,2009). OversightoftheTroubledAssetsReliefProgram:HearingBeforetheS.Comm.on Banking,Hous.&UrbanAffairs,111thCong.(May20,2009). HearingwithTreasurySecretaryTimothyGeithner:HearingBeforetheSubcomm.on Fin.Servs.andGen.GovtoftheH.Comm.onAppropriations,111thCong. (May21,2009). CorporateandCommercialRealEstateLending:HearingBeforetheCong.Oversight Panel,111thCong.(May28,2009). ThePresentConditionandFutureStatusofFannieMaeandFreddieMac:Hearing BeforetheH.Comm.onFin.Servs.,111thCong.(June3,2009). HearingwithTreasurySecretaryTimothyGeithner:HearingBeforetheSubcomm.on Fin.Servs.andGen.GovtoftheS.Comm.onAppropriations,111thCong. (June9,2009). TheEffectiveRegulationoftheOvertheCounterDerivativesMarkets:HearingBefore theH.Comm.onFin.Servs.,111thCong.(June9,2009. BankofAmericaandMerrillLynch:HowDidaPrivateDealTurnintoaFederal Bailout?:HearingBeforetheH.Comm.onOversightandGovtReform,111th Cong.(June11,2009). CompensationStructureandSystemicRisk:HearingBeforetheH.Comm.onFin. Servs.,111thCong.(June11,2009). TheAdministrationsPlanfortheRestructuringoftheAmericanFinancialRegulatory System:HearingBeforetheH.Comm.onFin.Servs.,111thCong.(June18, 2009). 100

TheAdministrationsProposaltoModernizetheFinancialRegulatorySystem:Hearing BeforetheS.Comm.onBanking,Hous.&UrbanAffairs,111thCong.(June18, 2009). OvertheCounterDerivatives:ModernizingOversighttoIncreaseTransparencyand ReduceRisks:HearingBeforetheS.Comm.onBanking,Hous.&UrbanAffairs, 111thCong.(June22,2009). BankofAmericanandMerrillLynch:HowDidaPrivateDealTurnIntoaFederal Bailout?PartII:HearingBeforetheH.Comm.onOversightandGovtReform, 111thCong.(June25,2009). FarmCredit:HearingBeforetheCong.OversightPanel,111thCong.(July7,2009). RegulatoryRestructuring:BalancingtheIndependenceoftheFederalReservein MonetaryPolicywithSystemicRiskRegulation:HearingBeforetheH.Comm. onFin.Servs.,111thCong.(July9,2009). H.R.3068,TARPforMainStreetActof2009:HearingBeforetheH.Comm.onFin. Servs.,111thCong.(July9,2009). AReviewoftheAdministrationsProposaltoRegulatetheOvertheCounter DerivativesMarket:HearingBeforetheH.Comm.onFin.Servs.,111thCong. (July10,2009). SECOversight:CurrentStateandAgenda:HearingBeforetheH.Comm.onFin.Servs., 111thCong.(July14,2009). CreatingaConsumerFinancialProtectionAgency:ACornerstoneofAmericasNew EconomicFoundation:HearingBeforetheS.Comm.onBanking,Hous.&Urban Affairs,111thCong.(July14,2009). RegulatingHedgeFundsandOtherPrivateInvestmentPools:HearingBeforetheS. Comm.onBanking,Hous.&UrbanAffairs,111thCong.(July15,2009). BankofAmericaandMerrillLynch:HowdidaPrivateDealTurnIntoaFederal Bailout?PartIII:HearingBeforetheH.Comm.onOversightandGovtReform, 111thCong.(July16,2009). RegulatoryRestructuring:SafeguardingConsumerProtectionandtheRoleofthe FederalReserve:HearingBeforetheH.Comm.onFin.Servs.,111thCong.(July 16,2009).

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FollowingtheMoney:ReportoftheSpecialInspectorGeneralfortheTroubledAsset ReliefProgram(SIGTARP):HearingBeforetheH.Comm.onOversightand GovtReform,111thCong.(July21,2009). HumphreyHawkinsHearingonMonetaryPolicy:HearingBeforetheH.Comm.onFin. Servs.,111thCong.(July21,2009). SystemicRisk:AreSomeInstitutionsTooBigtoFailandIfSo,WhatShouldWeDo AboutIt?:HearingBeforetheH.Comm.onFin.Servs.,111thCong.(July21, 2009). RegulatoryPerspectivesontheObamaAdministrationsFinancialRegulatoryReform Proposals:HearingBeforetheH.Comm.onFin.Servs.,111thCong.(July22, 2009). TARPOversight:WarrantRepurchasesandProtectingTaxpayers:HearingBeforethe H.Comm.onFin.Servs.,111thCong.(July22,2009). EstablishingaFrameworkforSystemicRiskRegulation:HearingBeforetheS.Comm. onBanking,Hous.&UrbanAffairs,111thCong.(July23,2009). RegulatoryPerspectivesontheObamaAdministrationsFinancialRegulatoryReform ProposalsPartTwo:HearingBeforetheH.Comm.onFin.Servs.,111thCong. (July24,2009). AutoIndustry:HearingBeforetheCong.OversightPanel,111thCong.(July27,2009). ProtectingShareholdersandEnhancingPublicConfidencebyImprovingCorporate Governance:HearingBeforetheS.Comm.onBanking,Hous.&UrbanAffairs, 111thCong.(July29,2009). StrengtheningandStreamliningPrudentialBankSupervision:HearingBeforetheS. Comm.onBanking,Hous.&UrbanAffairs,111thCong.(Aug.24,2009). ExaminingProposalstoEnhancetheRegulationofCreditRatingAgencies:Hearing BeforetheS.Comm.onBanking,Hous.&UrbanAffairs,111thCong.(Aug.5, 2009). ProposalstoEnhancetheCommunityReinvestmentAct:HearingBeforetheH.Comm. onFin.Servs.,111thCong.(Sept.16,2009). UtilizingTechnologytoImproveTARPandFinancialOversight:HearingBeforetheH. Comm.onFin.Servs.,111thCong.(Sept.17,2009).

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TheAdministrationsProposalsforFinancialRegulatoryReform:HearingBeforetheH. Comm.onFin.Servs.,111thCong.(Sept.23,2009). FederalRegulatorPerspectivesonFinancialRegulatoryReformProposals:Hearing BeforetheH.Comm.onFin.Servs.,111thCong.(Sept.23,2009). EmergencyEconomicStabilizationAct:OneYearLater:HearingBeforetheS.Comm. onBanking,Hous.&UrbanAffairs,111thCong.(Sept.24,2009). ExpertsPerspectivesonSystemicRiskandResolutionIssues:HearingBeforetheH. Comm.onFin.Servs.,111thCong.(Sept.24,2009). RecentInnovationsinSecuritization:HearingBeforetheH.Comm.onFin.Servs., 111thCong.(Sept.24,2009). MortgageForeclosures:HearingBeforetheCong.OversightPanel,111thCong.(Sept. 24,2009). H.R.1207,theFederalReserveTransparencyActof2009:HearingBeforetheH.Comm. onFin.Servs.,111thCong.(Sept.25,2009). StrengtheningandStreamliningPrudentialBankSupervision(ContinuationoftheAug. 4,2009Hearing):HearingBeforetheS.Comm.onBanking,Hous.&Urban Affairs,111thCong.(Sept.29,2009). CreditRatingAgenciesandtheNextFinancialCrisis:HearingBeforetheH.Comm.on OversightandGovtReform,111thCong.(Sept.30,2009). PerspectivesontheConsumerFinancialProtectionAgency:HearingBeforetheH. Comm.onFin.Servs.,111thCong.(Sept.30,2009). ReformingCreditRatingAgencies:HearingBeforetheH.Comm.onFin.Servs.,111th Cong.(Sept.30,2009). FederalReservePerspectivesonFinancialRegulatoryReformProposals:HearingBefore theH.Comm.onFin.Servs.,111thCong.(Oct.1,2009). CapitalMarketsRegulatoryReform:StrengtheningInvestorProtection,Enhancing OversightofPrivatePoolsofCapital,andCreatingaNationalInsuranceOffice: HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Oct.6,2009). ReformoftheOvertheCounterDerivativeMarket:LimitingRiskandEnsuring Fairness:HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Oct.7, 2009). 103

SecuritizationofAssets:ProblemsandSolutions:HearingBeforetheS.Comm.on Banking,Hous.&UrbanAffairs,111thCong.(Oct.7,2009). FutureoftheMortgageMarketandtheHousingEnterprises:HearingBeforetheS. Comm.onBanking,Hous.&UrbanAffairs,111thCong.(Oct.8,2009). TheFutureoftheFederalHousingAdministrationsCapitalReserves:Assumptions, PredictionsandImplicationsforHomebuyers:HearingBeforetheH.Comm.on Fin.Servs.,111thCong.(Oct.8,2009). ExaminingtheStateoftheBankingIndustry:HearingBeforetheS.Comm.onBanking, Hous.&UrbanAffairs,111thCong.(Oct.14,2009). TheStateoftheNationsHousingMarket:HearingBeforetheS.Comm.onBanking, Hous.&UrbanAffairs,111thCong.(Oct.20,2009). ExecutiveCompensation:HowMuchisTooMuch?:HearingBeforetheH.Comm.on OversightandGovtReform,111thCong.(Oct.28,2009). DarkPools,FlashOrders,HighFrequencyTrading,andOtherMarketStructureIssues: HearingBeforetheS.Comm.onBanking,Hous.&UrbanAffairs,111thCong. (Oct.28,2009). SystemicRegulation,PrudentialMatters,ResolutionAuthorityandSecuritization: HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Oct.29,2009). BankofAmericaandMerrillLynch:HowDidaPrivateDealTurnIntoaFederal Bailout?PartIV:HearingBeforetheH.Comm.onOversightandGovtReform, 111thCong.(Nov.17,2009). TrackingtheMoney:HowRecoveryActRecipientsAccountforTheirUseofStimulus Dollars:HearingBeforetheH.Comm.onOversightandGovtReform,111th Cong.(Nov.19,2009). ImprovingResponsibleLendingtoSmallBusinesses:HearingBeforetheH.Comm.on Fin.Servs.,111thCong.(Nov.30,2009). TheNominationoftheHonorableBenBernanke:HearingBeforetheS.Comm.on Banking,Hous.&UrbanAffairs,111thCong.(Dec.3,2009). ThePrivateSectorandGovernmentResponsetotheMortgageForeclosureCrisis: HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Dec.8,2009). AdditionalReformstotheSecuritiesInvestorProtectionAct:HearingBeforetheH. Comm.onFin.Servs.,111thCong.(Dec.9,2009). 104

WeatheringtheStorm:CreatingJobsintheRecession:HearingBeforetheS.Comm.on Banking,Hous.&UrbanAffairs,111thCong.(Dec.9,2009). TheConditionofFinancialInstitutions:ExaminingtheFailureandSeizureofan AmericanBank:HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Jan. 21,2010). CompensationintheFinancialIndustry:HearingBeforetheH.Comm.onFin.Servs., 111thCong.(Jan.22,2010). TheImpactoftheForeclosureCrisisonPublicandAffordableHousingintheTwin Cities:HearingBeforetheH.Comm.onFin.Servs.,111thCong.(Jan.23, 2010). TheStateofGlobalMicrofinance:HowPublicandPrivateFundsCanEffectively PromoteFinancialInclusionforAll:HearingBeforetheH.Comm.onFin.Servs., 111thCong.(Jan.27,2010).

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6.

Speeches PaulS.Atkins,Commr,SEC,CommentsonProposedRulesRegarding OversightofCreditRatingAgenciesasNationallyRecognizedStatistical RatingAgencies(Jan.31,2007). PaulS.Atkins,Commr,SEC,SpeechatConferenceCosponsoredbythe AmericanEnterpriseInstituteandtheBrookingsInstitution:IsExcessive RegulationandLitigationErodingU.S.FinancialCompetitiveness?(Apr. 20,2007). PaulS.Atkins,Commr,SEC,CommentsonFinalRulesRegardingOversightof CreditRatingAgenciesasNationallyRecognizedStatisticalRating Agencies(May23,2007). PaulS.Atkins,Commr,SEC,RemarksatthePresidentsAdvisoryCouncilon FinancialLiteracySubcommitteeMeetingontheFutureofResponsible SubprimeLending,Washington,D.C.(May28,2008)availableattheU.S. SecuritiesandExchangeCommissionwebsite http://www.sec.gov/news/speech/2008/spch052808psa.htm(lastvisited Jan.28,2010). BenBernanke,Chairman,FederalReserve,SpeechattheWashingtonEconomic Club,Washington,DC:TheComingDemographicTransition:WillWe TreatFutureGenerationsFairly?(Oct.4,2006). BenBernanke,Chairman,FederalReserve,SpeechattheFederalReserveBankof Chicagos43rdAnnualConferenceonBankStructureandCompetition: TheSubprimeMortgageMarket(May17,2007). BenBernanke,Chairman,FederalReserve,SpeechviaSatelliteatthe2007 InternationalMonetaryConference,CapeTown,SouthAfrica:The HousingMarketandSubprimeLending(June5,2007). BenBernanke,Chairman,FederalReserve,SpeechattheFederalReserveBankof Atlanta:TheFinancialAcceleratorandtheCreditChannel(June15,2007). BenBernanke,Chairman,FederalReserve,SpeechattheFederalReserveBankof KansasCitysEconomicSymposium:Housing,HousingFinance,and MonetaryPolicy(Aug.31,2007). BenBernanke,Chairman,FederalReserve,SpeechattheEconomicClubofNew York:TheRecentFinancialTurmoilanditsEconomicandPolicy Consequences(Oct.15,2007). 106

BenBernanke,Chairman,FederalReserve,SpeechattheNationalAssociationfor BusinessEconomics50thAnnualMeeting,Washington,D.C.:Current EconomicandFinancialConditions(Oct.7,2008). BenBernanke,Chairman,FederalReserve,RemarksatthePresidentsWorking GroupMarketStabilityInitiativeAnnouncement(Oct,14,2008). BenBernanke,Chairman,FederalReserve,SpeechattheEconomicClubofNew York:StabilizingtheFinancialMarketsandtheEconomy(Oct.15,2008). BenBernanke,Chairman,FederalReserve,SpeechtotheUCBerkeley/UCLA SymposiumonTheMortgageMeltdown,theEconomy,andPublicPolicy: TheFutureofMortgageFinanceintheUnitedStates(Oct.31,2008). BenBernanke,Chairman,FederalReserve,SpeechtotheFifthEuropeanCentral BankCentralBankingConferenceonTheEuroatTenLessonsand Challenges:PolicyCoordinationAmongCentralBanks(Nov.14,2008). BenBernanke,Chairman,FederalReserve,SpeechattheGreaterAustin ChamberofCommerce:FederalReservePoliciesintheFinancialCrisis (Dec.1,2008). BenBernanke,Chairman,FederalReserve,SpeechattheFederalReserveSystem ConferenceonHousingandMortgageMarkets,Washington,D.C.: Housing,Mortgage,MarketsandForeclosures(Dec.4,2008). BenBernanke,Chairman,FederalReserve,SpeechattheStampLecture,London SchoolofEconomics:TheCrisisandthePolicyResponse(Jan.13,2009). BenBernanke,Chairman,FederalReserve,SpeechattheNationalPressClub Luncheon:FederalReservePoliciestoEaseCreditandTheirImplications fortheFedsBalanceSheet(Feb.18,2009). BenBernanke,Chairman,FederalReserve,SpeechattheCouncilonForeign Relations:FinancialReformtoAddressSystemicRisk(Mar.10,2009). BenBernanke,Chairman,FederalReserve,SpeechattheIndependent CommunityBankersofAmericasNationalConventionandTechworld: TheFinancialCrisisandCommunityBanking(Mar.20,2009). BenBernanke,Chairman,FederalReserve,SpeechatMorehouseCollege:Four QuestionsabouttheFinancialCrisis(Apr.14,2009).

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BenBernanke,Chairman,FederalReserve,SpeechattheFederalReserve SystemsSixthBiennialCommunityAffairsResearchConference: FinancialInnovationandConsumerProtection(Apr.17,2009). BenBernanke,Chairman,FederalReserve,SpeechattheFederalReserveBankof ChicagoConferenceonBankStructureandCompetition:Lessonsofthe FinancialCrisisforBankingSupervision(May7,2009). BenBernanke,Chairman,FederalReserve,SpeechattheFederalReserveBankof Atlanta2009FinancialMarketsConference:TheSupervisoryCapital AssessmentProgram(May11,2009). BenBernanke,Chairman,FederalReserve,CommencementAddressatthe2009 CommencementoftheBostonCollegeSchoolofLaw(May22,2009). BenBernanke,Chairman,FederalReserve,SpeechattheGlobalFinancial LiteracySummit:CommunityDevelopmentFinancialInstitutions: ChallengesandOpportunities(June17,2009). BenBernanke,Chairman,FederalReserve,SpeechattheFederalReserveBankof KansasCitysAnnualEconomicSymposium:ReflectionsonaYearof Crisis(Aug.21,2009). BenBernanke,Chairman,FederalReserve,SpeechattheEconomicClubof Washington,D.C.:FrequentlyAskedQuestions(Dec.7,2009). KathleenL.Casey,Commr,SEC,RemarksatTheSECSpeaksin2009:In SearchofTransparency,Accountability,andCompetition:TheRegulation ofCreditRatingAgencies(Feb.6,2009). ChristopherCox,Chairman,SEC,Speechatthe34thAnnualSecurities RegulationInstitute:ReThinkingRegulationintheEraofGlobal SecuritiesMarkets(Jan.24,2007). ChristopherCox,Chairman,SEC,SpeechattheSecurityTraders12thAnnual WashingtonConference(May7,2008). ChristopherCox,Chairman,SEC,StatementatOpenMeetingonRulesforCredit RatingAgencies(June11,2008). ChristopherCox,Chairman,SEC,StatementonProposaltoIncreaseInvestor ProtectionbyReducingRelianceonCreditRatings(June25,2008). ChristopherCox,Chairman,SEC,StatementatNewsConferenceAnnouncing ReleaseofExaminationReportonCreditRatingAgencies(July8,2008). 108

ChristopherCox,Chairman,SEC,ProtectingSeniorInvestorsinTodaysMarkets (Sept.22,2008). ChristopherCox,Chairman,SEC,OpeningRemarksatSECRoundtableon ModernizingtheSecuritiesandExchangeCommissionsDisclosure System(Oct.8,2008). ChristopherCox,Chairman,SEC,OpeningRemarksattheSECRoundtableon MarktoMarketAccounting(Oct.29,2008). ChristopherCox,Chairman,SEC,SpeechattheSECInternationalEnforcement Institute:TheImportanceofInternationalEnforcementCooperationin TodaysMarkets(Nov.7,2008). ChristopherCox,Chairman,SEC,SpeechatthePLI40thAnnualSecurities RegulationInstitute:BuildingonStrengthsinDesigningtheNew Structure(Nov.12,2008). ChristopherCox,Chairman,SEC,MessagefromtheChairmaninSECs2008 PerformanceandAccountabilityReport(Nov.14,2008). ChristopherCox,Chairman,SEC,SpeechattheFEI2008CurrentFinancial ReportingIssuesConference:TheFutureofInternationalStandardsand CooperationinLightoftheCreditCrisis(Nov.18,2008). ChristopherCox,Chairman,SEC,StatementatOpenMeetingonCreditRating AgencyReforms(Dec.3,2008). ChristopherCox,Chairman,SEC,AddressatJointMeetingoftheExchequer ClubandWomeninHousingandFinance(Dec.4,2008). ChristopherCox,Chairman,SEC,RemarksattheAICPANationalConferenceon CurrentSECandPCAOBDevelopments(Dec.8,2008). DavidEinhorn,GreenlightCapital,SpeechatGrantsSpringInvestment Conference:PrivateProfitsandSocializedRisk(Apr.8,2008). DavidEinhorn,GreenlightCapital,SpeechatIraW.SohnInvestmentResearch ConferenceonAccountingIngenuity:AccountingIngenuity(May21, 2008). TimothyGeithner,President,FederalReserveBankofN.Y.,Remarksatthe EconomicClub,NewYork:ReducingSystemicRiskInADynamic FinancialSystem(June9,2008). 109

TimothyGeithner,U.S.SecyoftheTreasury,RemarksIntroducingtheFinancial StabilityPlan(Feb.10,2009). TimothyGeithner,U.S.SecyoftheTreasury,StatementonTreasurys CommitmentatFannieMaeandFreddieMac(Feb.18,2009). TimothyGeithner,U.S.SecyoftheTreasury,StatementattheG20Finance MinistersandCentralBankGovernorsMeeting(Mar.14,2009). TimothyGeithner,U.S.SecyoftheTreasury,PressBriefingbySecretaryofthe TreasuryTimothyGeithner,Washington,D.C.(Mar.23,2009). TimothyGeithner,U.S.SecyoftheTreasury,StatementattheInterAmerican DevelopmentBanksAnnualMeetingoftheBoardsofGovernors(Mar. 29,2009). TimothyGeithner,U.S.SecyoftheTreasury,RemarksatTheEconomicClubof Washington(Apr.22,2009). TimothyGeithner,U.S.SecyoftheTreasury,StatementattheG7Finance MinistersandCentralBankGovernorsMeeting(Apr.24,2009). TimothyGeithner,U.S.SecyoftheTreasury,StatementattheInternational MonetaryandFinancialCommittee(IMFC)Meeting(Apr.25,2009). TimothyGeithner,U.S.SecyoftheTreasury,RemarksattheIndependent CommunityBankersofAmericaAnnualWashingtonPolicySummit(May 13,2009). TimothyGeithner,U.S.SecyoftheTreasury,SpeechatPekingUniversity, Beijing,China:TheUnitedStatesandChina,CooperatingforRecovery andGrowth(May31,2009). MorrisGoldstein,DennisWeatherstoneSeniorFellow,PetersonInst.forIntl Econ.,SpeechattheNationalEconomistsClub:ATenPlankProgramfor FinancialRegulatoryReform(Dec.18,2008). HerveHannoun,DeputyGen.ManageroftheBankforIntlSettlements,Speech atthe43rdSEACENGovernorsConference:FinancialDeepening WithoutFinancialExcesses(Mar.21,2008). RandallS.Kroszner,Governor,FederalReserve,SpeechattheConsumer BankersAssociation2007FairLendingConference:TheChallengesFacing SubprimeMortgageBorrowers(Nov.5,2007). 110

TroyA.Paredes,Commr,SEC,StatementatOpenMeetingonNationally RecognizedStatisticalRatingOrganizations(Dec.3,2008). HenryPaulson,U.S.SecyoftheTreasury,RemarksontheCompetitivenessof U.S.CapitalMarketsattheEconomicClubofNewYork(Nov.20,2006). HenryPaulson,U.S.SecyoftheTreasury,OpeningRemarksatTreasurys CapitalMarketsCompetitiveConferenceatGeorgetownUniversity(Mar. 13,2007). HenryPaulson,U.S.SecyoftheTreasury,RemarksonCurrentHousingand MortgageMarketDevelopmentsatGeorgetownUniversityLawCenter (Oct.16,2007). HenryPaulson,U.S.SecyoftheTreasury,RemarksonActionsTakenand ActionsNeededinU.S.MortgageMarketsattheOfficeofThrift SupervisionNationalHousingForum(Dec.3,2007). HenryPaulson,U.S.SecyoftheTreasury,RemarksonCurrentFinancialand HousingMarketsattheU.S.ChamberofCommerce(Mar.26,2008). HenryPaulson,U.S.SecyoftheTreasury,RemarksonBlueprintforRegulatory Reform(Mar.31,2008). HenryPaulson,U.S.SecyoftheTreasury,RemarksonEconomyandMarketsat WomeninHousingandFinance(June19,2008). HenryPaulson,U.S.SecyoftheTreasury,RemarksontheU.S.,theWorld EconomyandMarketsattheChathamHouse,London,U.K.(July2,2008). HenryPaulson,U.S.SecyoftheTreasury,StatementonTreasuryandFederal HousingFinanceAgencyActiontoProtectFinancialMarketsand Taxpayers(Sept.7,2008). HenryPaulson,U.S.SecyoftheTreasury,RemarksattheRonaldReagan PresidentialLibrary(Nov.20,2008). HenryPaulson,U.S.SecyoftheTreasury,RemarksonConsumerABSLending Facility(Nov.25,2008). HenryPaulson,U.S.SecyoftheTreasury,RemarksontheU.S.Economyand FinancialSystem(Dec.1,2008). MarySchapiro,Chairman,SEC,StatementattheSECRoundtableonCredit RatingAgencies(Apr.15,2009). 111

GeneSchnabel,SeniorResearchAnalystoftheDepartmentalResearch AssistanceUnitoftheMonetaryandEcon.DeptoftheBankforIntl Settlements,SpeechattheInternationalSeminaronTimeliness, Methodology,andComparabilityofRapidEstimatesofEconomicTrends: StatisticsUsedbytheBISinMonitoringandResearchoftheEconomic andFinancialCrises(May2729,2009). ElisseB.Walter,Commr,SEC,SpeechonRegulatingBrokerDealersand InvestmentAdvisers:DemarcationorHarmonization?(May5,2009).

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TelevisionBroadcasts 60Minutes(CBStelevisionbroadcastMar.15,2009)(interviewbyScottPelleyof BenBernanke,Chairman,FederalReserve). CBSEveningNews(CBStelevisionbroadcastApr.1,2009)(interviewbyKatie CouricofTimothyGeithner,U.S.SecyoftheTreasury). CBSEveningNews(CBStelevisionbroadcastSept.14,2009)(interviewbyKatie CouricofTimothyGeithner,U.S.SecyoftheTreasury). CharlieRose(PBStelevisionbroadcastMar.10,2009)(interviewbyCharlieRose ofTimothyGeithner,U.S.SecyoftheTreasury). CharlieRose(PBStelevisionbroadcastMay6,2009)(interviewbyCharlieRoseof TimothyGeithner,U.S.SecyoftheTreasury). CNNNewsroom(CNNtelevisionbroadcastSept.5,2009)(interviewbyRichard QuestofTimothyGeithner,U.S.SecyoftheTreasury). Frontline:InsidetheMeltdown(PBStelevisionbroadcastFeb.17,2009). MeetthePress(NBCtelevisionbroadcastMar.29,2009)(interviewbyDavid GregoryofTimothyGeithner,U.S.SecyoftheTreasury). PBSNewshour(PBStelevisionbroadcastFeb.25,2009)(interviewbyJimLehrer ofTimothyGeithner,U.S.SecyoftheTreasury). PBSNewshour(PBStelevisionbroadcastJuly27,2009)(interviewbyJimLehrerof BenBernanke,Chairman,FederalReserve). PowerLunch(CNBCtelevisionbroadcastFeb.10,2009)(interviewbyBrian WilliamsandSteveLiesmanofTimothyGeithner,U.S.Secyofthe Treasury). PowerLunch(CNBCtelevisionbroadcastMar.25,2009)(interviewbySteve LiesmanofTimothyGeithner,U.S.SecyoftheTreasury). StreetSigns(CNBCtelevisionbroadcastMar.23,2009)(interviewbyErinBurnett ofTimothyGeithner,U.S.SecyoftheTreasury). ThisWeekwithGeorgeStephanopoulos(ABCtelevisionbroadcastMar.29,2009) (interviewbyGeorgeStephanopoulosofTimothyGeithner,U.S.Secyof theTreasury). 113

ThisWeekwithGeorgeStephanopoulos(ABCtelevisionbroadcastAug.2,2009) (interviewbyGeorgeStephanopoulosofTimothyGeithner,U.S.Secyof theTreasury).

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FederalReserve,ReporttotheFederalReserveBoardbytheWorkingGroupon NewBankImplementation(Dec.15,2005). FederalReserve,94thAnnualReportoftheBoardofGovernorsoftheFederal ReserveSystem(Apr.1,2008). FederalReserveBankofNewYork,FinancialTurmoilTimeline,June2007Aug. 2009,availableathttp://www.newyorkfed.org/research/ global_economy/Crisis_Timeline.pdf(lastvisitedJan.31,2010). FederalReserveBankofNewYork,IntroductiontotheNewYorkFed(Nov. 2009),availableathttp://www.newyorkfed.org/aboutthefed/ introtothefed.html(lastvisitedJan.31,2010). FederalReserveBankofSt.Louis,TheFinancialCrisis:ATimelineofEventsand PolicyActions,July24,2009,availableathttp://timeline.stlouisfed.org/pdf/ CrisisTimeline.pdf(lastvisitedFeb.1,2010). FinancialServicesAuthority,Pub.Ref.No.001646,FinancialRiskOutlook2009 (2009). FinancialServicesAuthority,Pub.Ref.No.003289,TheTurnerReviewA RegulatoryResponsetotheGlobalBankingCrisis(Mar.2009). FinancialServicesAuthority,Pub.Ref.No.003346,FSAAnnualReport2008/2009 (May,28,2009). FinancialStabilityOversightBoard,QuarterlyReporttoCongressPursuantto Section104(g)oftheEmergencyEconomicStabilizationActof2008(June 30,2009). MichaelFleming,etal.,FederalReserveBankofNewYork,TheTermSecurities LendingFacility:Origin,DesignandEffects,FederalReserveBankofN.Y. CurrentIssuesinEcon.andFin.,Vol.15,No.2(Feb.2009). TimothyGeithner,U.S.SecyoftheTreasury,StatementonCompensation(June 10,2009),availableathttp://www.treas.gov/press/releases/tg163.htm(last visitedFeb.1,2010). JointStatement,U.S.SecyoftheTreasuryTimothyF.Geithner,FederalReserve ChairmanBenS.Bernanke,andF.D.I.C.ChairmanSheilaBair,Legacy AssetProgram(July8,2009),availableathttp://www.financialstability.gov/ latest/tg_07082009.html(lastvisitedJan.31,2010).

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JointStatement,U.S.SecyoftheTreasuryTimothyF.Geithner,FederalReserve ChairmanBenS.Bernanke,F.D.I.C.ChairmanSheilaBairand ComptrolleroftheCurrencyJohnC.Dugan,TheTreasuryCapital AssistanceProgramandtheSupervisoryCapitalAssessmentProgram (May6,2009),availableathttp://www.federalreserve.gov/newsevents /press/bcreg/20090506a.htm(lastvisitedJan.31,2010). DarrylE.Getter,MarkJickling,MarcLabonteandEdwardV.Murphy, CongressionalResearchService,ReportRL34182,FinancialCrisis?The LiquidityCrunchofAugust2007(Sept.21,2007). MichaelS.Gibson,FederalReserve,StaffWorkingPaperNo.200747,Credit DerivativesandRiskManagement,FinancialandEconomicsDiscussion Series(May22,2007). LetterfromSen.CharlesE.GrassleytoChairmanMaryL.Schapiro,SEC,(Feb. 19,2009). JaneG.Gravelle,etal.,CongressionalResearchService,ReportRL34349, EconomicSlowdown:IssuesandPolicies(Sept.29,2008). InternationalMonetaryFund,InitialLessonsoftheCrisis(Feb.6,2009). MarkJickling,CongressionalResearchService,ReportRL34412,Averting FinancialCrisis(Mar.21,2008). MarcLabonte,CongressionalResearchService,ReportRL34244,Woulda HousingCrashCauseaRecession?(Nov.7,2007). LehmanBackedStructuredProducts,CaseStudy,CaseNo.WIA13(Wider Implications),Aug.14,2009,availableat http://www.widerimplications.info/case_studies/wi_13.html(lastvisited Jan.28,2010). LehmanBrothers,SharperImage,BennigansandBeyond:IsChapter11 BankruptcyWorking?:HearingBeforetheH.Comm.ontheJudiciary Subcomm.onCommercialandAdministrativeLaw,111thCong.(2009). DickK.Nanto,CongressionalResearchService,ReportRL34742,TheGlobal FinancialCrisis:AnalysisandPolicyImplications(Oct.2,2009). PerspectivesonHedgeFundRegistration:HearingBeforetheH.Subcomm.on CapitalMarkets,Insurance,andGovernmentSponsoredEntities,111th

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